The Insurance Information Institute reported in October that rates for individual term life insurance and permanent life insurance (whole life and universal life) will likely drop by three percent in 2006 This is because people are living longer (what the insurance business calls “mortality improvements) and also because of competitition. One will be able to see these improvements instantly on the lifeinsure.com insurance quotes engine as these changes come about Term life insurance rates have been in a downward trajectory for the last 20 years or so. The biggest rate reductions that we have seen have been for the most healthy people who don’t use tobacco which the life insurance companies call the “best risks”. The lowest rates available in 2005 are more than 50% lower than term life insurance rates from a decade ago.