Term life prices in 2026: are rates going up or down, and what to tell clients

Clients ask whether they should wait, and agents ask whether to lead with price. Here's the honest read without pretending to predict the market.

The long trend. Term prices for healthy applicants fell for two decades as mortality improved and carriers competed on accelerated underwriting. In the last couple of years the decline flattened, and some carriers repriced up on certain age bands and face amounts. Some repriced down to chase volume. Net: flat to slightly mixed, depending on the case.

What actually moves a client's price more than the market. Their age this year versus next year. Their health this year versus next year. Nicotine. Build. A rated class from a condition that's stable now and might not be later. Waiting to save a few dollars on rates loses to a birthday and a new prescription every time.

What to tell the client. 'Rates for someone your age and health are about where they've been. The thing that changes your price isn't the market, it's the next birthday and the next doctor's visit. If the coverage is right, the timing is now.'

What to do as the agent. Quote three carriers, every time, because the repricing didn't happen uniformly and the carrier that won last year's comparison may not win this one. Keep the conversion option in the conversation for the young client. And don't sell on price alone; the client who bought the cheapest term from an online brand will be comparing you to a website forever.

Which carriers moved on price this year in your quotes? Post the age band and the direction. No rate sheets, just what you saw.