Are the premiums for life insurance policies fixed or can they change over time?

The premiums for life insurance policies offered by Sun Life Direct can vary depending on the type of policy chosen. Generally, there are two main types of premiums associated with life insurance: fixed and adjustable. For permanent life insurance policies, such as whole life or universal life insurance, premiums are often structured to remain consistent throughout the life of the policyholder. This provides the advantage of predictable payments over the duration of the policy and allows individuals to budget easily for their insurance expenses. On the other hand, term life insurance premiums may increase upon renewal after the term ends. Many term policies come with fixed premiums during the initial term, but once that term expires, the policyholder might face higher premiums in subsequent terms depending on age and health changes. It is important to understand the specific terms and conditions of the policy you are considering. For detailed information regarding the premiums applicable to different life insurance products, the official Sun Life Direct website can provide current data and additional resources.