Mission Viejo, CA - Wall Street Journal article titled "It May be Time to swap that Life Policy" speculated something that the President of Spectrum Direct, Sy Alter, Chartered Life Underwriter, has been advising Spectrum Direct's clients about for some time. It's time to review your existing term life insurance policies. "Term life insurance rates have dropped so fast in recent years that many existing policyholders may be able to save money by shopping around again" stated Alter. "We have been recommending that consumers review their existing term life insurance policies for the exact same reasons the April 16, 2006 Wall Street Journal article recommends. However, there is one major benefit that the Wall Street Journal article does not mention: Consumers can 'lock in' another 10 or 20 year level premium guarantee period by buying a new insurance policy and replacing the old one."

Traditionally, the best prices on term life insurance went to young, healthy adults, and while that may still be true, term life rates have dropped so much that it may be time for you to replace your current coverage and save 20% or more on your premiums. Sy Alter pointed out "In fact, term premiums have fallen about 50% overall in the past decade, a result of Americans living longer and healthier lives and the impact of shopping for insurance on the internet."

Term life insurance provides a specific death benefit if you die while your policy is in effect. Unlike other insurance products term life policies allow you to drop coverage at any time without penalties so there's no down side to shopping for replacement insurance. Term life insurance is the most widely held type of insurance, over two-thirds of all life insurance buyers today purchase term life because it is less expensive and offers coverage for the years you need it most, for instance when you have a young family that depends on your insurance benefits to support them in case of your untimely demise. Spectrum Direct customers have been reaping the benefits of reduced costs for term life insurance by replacing older policies with new less expensive policies where available.

How old is your term life policy? If it's five or more years old and your health has not significantly worsened, you could save 20% or more on your term life insurance coverage. "This is important news for consumers" says Christopher Snyder, a Chartered Life Underwriter and Spectrum Direct's CEO, "We're pleased that a credible third party such as the Wall Street Journal agrees with our philosophy here at Spectrum Direct."