The Bank of England's Monetary Policy Committee (MPC) has voted to hold the interest rate at 0.5%.
Following its monthly meeting, the MPC also decided to maintain its quantitative easing (QE) asset purchase programme at £375bn.
Paul Avis, sales and marketing director at Canada Life Group Insurance, said the announcement may be good news for borrowers but group protection providers will be "gritting their teeth".
He said: "Products such as income protection and death in service pensions rely on interest rates to underpin the investment returns needed to back long-term products.
"The fact that the base rate has been at historically low levels for a significant period is likely to have a continued impact on the market. While providers have worked to keep prices low and develop innovative solutions to clients' needs - if rates remain at these low levels - prices need to rise across the industry."
The last movement from the MPC came in July, when it boosted the QE programme by £50bn.
It has held the record low base rate since March 2009, and both decisions were in line with economists' predictions.
The Bank is expected to assess the impact of its most recent QE boost and the £80bn 'funding for lending' scheme before going ahead with any further changes.
It said: "The committee expects the announced programme of asset purchases to take another two months to complete.
"The scale of the programme will be kept under review."
