Mission Viejo, CA - While gas and mortgage rates continue their price increases, consumers can lower their costs on one necessity - term life insurance. A recent article in the Wall Street Journal brought to light the news that term life insurance rates are now more affordable than they've ever been. Decreases of as much as 70% were cited in the article. The conclusion reached by the article, and experts in the industry, is that now is the best time to re-examine your existing term life policies. The insurance experts at Spectrum Direct, advise their clients that replacing an existing policy with new term life insurance coverage could save them a small fortune.

Since so many of life's necessities like gasoline, mortgages and medicine have been increasing, why are term life insurance rates showing such remarkable decreases? Sy Alter, President of Spectrum Direct, the largest seller of e-commerce term life insurance knows the answer. "The Internet has brought more information into the hands of both the insurance companies themselves, and the consumer looking to buy insurance." Mr. Alter continued "The insurance industry has benefited from improving technology - they can gather information faster and more accurately and that helps keep costs down. But the consumer plays an important role here too. The consumer has unparalleled access to pricing and information on the internet too, and they've made insurance rates more competitive by using the Internet as their research tool."

Since so many consumers turn to the Internet to find their coverage, many insurance companies have taken to the new media. Virtually every brand of insurance is available on the internet, although very few companies actually have their entire sales process online. Most term life insurance requires the buyer meet with an agent and take a medical exam. As consumers have gotten more comfortable with using the internet to research and purchase everything from cars to coffins, it was inevitable that term life insurance would be sold there as well. Spectrum Direct's websites, www.AmericanLifeDirect.com and www.LibertyDirect.com offer consumers the opportunity to complete their term life insurance purchase online in under 15 minutes. "We created two websites where consumers can apply, get approved, pay for their policy and print it out without ever speaking to an insurance agent or taking a medical exam." stated Christopher Snyder, CEO of Spectrum Direct.

Consumers have an unprecedented opportunity to replace older more costly coverage with lower cost coverage that is equal to or even longer than the policy they are replacing. Using the Internet to research, apply for and even buy new coverage gives consumers' easy access to the information they need to make big decisions like this. The Wall Street Journal article recognized that even with lower prices and more readily available information, many consumers haven't taken advantage of the savings. If you haven't shopped your term life coverage in five years, now's the time to do it, and perhaps save yourself a considerable amount of money.