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Consumer Stories Unaffordable Life Insurance Premiums
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Premium payments have become unaffordable

Susan's large and escalating premium payments are becoming a tremendous financial burden.

She is looking for alternatives to ease the costly burden of making these payments in order to sustain a good quality of life. 

She contacts her insurance company and is advised of the option to surrender the policy. 

The problem is that she is only offered 3-5% of the policy’s face value as her surrender value.

Like Susan, many people are not prepared for the steep escalation in premiums that accompanies ownership of many policies. Moreover, they may be hit with these policy increases at the precise time that they are experiencing mounting health care costs and other financial concerns. Under such circumstances, a policy may seem to be a lower priority than it might have been in the past.

Considering the high and often escalating premiums that policyholders often pay overtime to keep their policies in force, it’s an unfair and unacceptable outcome. In trying to abandon their policies, consumers lose the cash value buildup in them – the element that makes them an asset.

There is absolutely no reason to hold onto an unattractive policy when higher guarantees and higher coverage at lower premiums are a market option.
Are there more attractive alternatives than to lapse or surrender a policy? Very Likely.