Why your rate goes up on your birthday
The short answer
Life insurance is priced by age. Each year older usually means a higher price, so applying before your next birthday can lock in a lower rate.
How big is the step?
Typically 4 to 10 percent per year, more as you get older.
What locks it in
Your age when the application is submitted, not when the policy starts. Some carriers let you backdate up to six months.
General information, not insurance, tax, or legal advice. Coverage subject to underwriting approval.