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Insurance Companies Making It Harder To Get Life Insurance

People interested in getting life insurance might find trouble doing so right now, as insurance companies have made it harder to get amid the pandemic. The Wall Street Journal reports that companies have been raising prices, lowering benefits, and even refusing to sell some products. Some companies, for instance, have stopped selling life insurance to people age 70 and older who have health issues.

Part of the reason they are more restrictive is that interest rates have fallen during the pandemic and the long-term bonds in which insurance companies keep the majority of their primary investment account have seen their annual yields drop.

Read more here.