If you own a whole life policy you might want to read Bill Borsma's latest blog post, entitled "The Truth Behind Whole Life Premiums." Here is the link: http://www.billboersmaonlifeinsurance.info/the-truth-behind-whole-life-premiums/
Bill does a great job explaining how a whole life policy is not as guaranteed as the agents selling them would lead you to believe.
At least a few times a year, I see policies come across my desk where the policy is headed toward disaster. Often it's because both the owner and the agent treated the policy like a "set it and forget it" financial instrument. Even whole life policies, as this article illustrates, need to be managed and require a review every couple of years - if not annually. Problem is, most life insurance buyers rarely hear from their agent again - after the sale - unless the agent is pitching another policy.
Bill does a great job explaining how a whole life policy is not as guaranteed as the agents selling them would lead you to believe.
At least a few times a year, I see policies come across my desk where the policy is headed toward disaster. Often it's because both the owner and the agent treated the policy like a "set it and forget it" financial instrument. Even whole life policies, as this article illustrates, need to be managed and require a review every couple of years - if not annually. Problem is, most life insurance buyers rarely hear from their agent again - after the sale - unless the agent is pitching another policy.
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