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Regrettably, life insurance is often an underutilized resource. Statistics show that 90% of all life insurance policies lapse or are surrendered because of non-payment, due mainly to rising costs. Policies that do manage to stay in force are often under-performers or no longer needed. Especially problematic are universal life policies written since the 1980s. These policies often fail to meet expectations because of the rate of interest at which they were written. In some cases, the premiums did not “disappear” as had been projected; leaving seniors with unplanned expenses. For these and other reasons, many people are losing out on their policy’s accumulated value—don’t be one of them.
