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"?
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