When I was paying my life insurance premiums several months ago, I thought to check if all my payments were being reflected and how many more years i'd have to be paying them.
I was shocked to find that I have to pay for two extra years.
Yes, life insurance rates can get affected by inflation and other factors the insurer uses to project payments and dividends. The amount you can collect after the terms have been met (say, when you retire, get disabled or heaven forbid die) also affect if your premium payments will be adjusted or not. This is why it is always good to check once in a while, so you can also adjust your finances accordingly. Most insurance companies have this in writing (read the really fine print) because they are a business after all, and not doing so might drive them bankrupt.
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