TIP #5 Think twice before you do, because in many situations it may not be to your advantage. Before dropping any in-force policy, consider: 1. If your health status has changed over the years, you may no longer be insurable at standard rates. 2. Your present policy may have a lower premium rate than is required on a new policy of the same type (if, for no other reason, that you have grown older). 3. If you replace one cash-value policy with another, the cash value of the new policy may be relatively small for several years and may never be as large as that of the original one. 4. You will be subject to a new contestability period.
Posted on: Mon, 02 Sep 2013 10:08:40 +0000
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