No. of Recommendations: 0
They can increase your premiums at will, and your only options are to either pay up or abandon the policy?

Not sure why anybody would have signed up for such a thing.
How could you have overlooked such an obvious pitfall?

This is on par with the Indexed Universal Life (IUL) policies where the company can reduce the ceiling on the investment return you get credited with at their sole discretion. Never could see how anybody would agree to that, either.

And now, after 20 years of paying premiums they've got you in the "sunk cost" trap. (I assume you don't get any money back if you abandon the policy, right?)


Hate to drop the policy now, but being 74 you just never know...
It won't help you now, but have you run the figures of how much money you would have if you had saved or invested all the premiums you paid into your own personal "LTHC fund"?
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.