Why Do Life Insurance Premiums Increase? 
Premiums increase is some policies and not in others , depending on the type of contract . One thing that does increase each year is the mortality cost -LRB- the chance of dying -RRB- . How the increasing mortality cost is dealt with has a large impact on the premium . For example with a 5 year renewable term plan you pay a level premium for 5 years and the excess over the yearly cost in invested to smooth out the premium . With a permanent level premium plan the insurance company actuaries do a calculation based on factors including morality cost , expense interest rate . They need an end so age 100 is often used . The calculation determines how much is needed to be pay on a level premium base . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . 