“Will my term life insurance premium increase during the term length of my policy?” is the message that John left on my answering machine.

Manchester, New Hampshire is in Hillsborough County on the banks of the Merrimack River. Manchester is one of New England’s best places for finding a job. The Verizon Wireless Arena in Manchester has become the centerpiece of downtown. It is a 10,000 seat arena, a civic center that hosts a variety of events such as hockey, football, concerts and fairs. Manchester also has a thriving downtown area, with restaurants and stores.

The answer to John’s message, when I call him tomorrow is simple. John if you purchase guaranteed level premium term life insurance, your premium rate will not change during the period that you select. It will only go up at the end of the period that you initially selected. This increase may be very significant, so you may want to consider the longest initial period that best suits your budget.

If you purchased yearly renewable term, the premium will increase annually. Each year, the premium you pay will be calculated based on your current age. It is very inexpensive in the early years and then increases as you get older. The plan will automatically renew every year until you reach the age of 90 and you will not be required to have a paramedic exam or provide proof of insurability each year. The term life insurance premium may increase annually.