Can Life Insurance Premiums Increase? 
They can , yes , depending upon the type of policy you have so it is important to talk with your Insurance Professional . Some older term policies for example were designed to be annually renewable -LRB- ART 's -RRB- with each renewing year 's premium increasing to reflect your attained age . These older ART forms have in many cases been replaced by the more modern `` Level Term '' policies . These policies are contracts that lock in the premium you pay from the begininning for a time certain , usually 10 , 15 , 20 or 30 years . At the end of that designated time period , the premium will then increase and usually dramaticaly not unlike a `` balloon '' mortgage to use an example . 