Universal Life Insurance Premiums Increase Dramatically
Universal Life Insurance (IUL)
Universal life insurance premiums are on the dramatic rise, and it forces individuals to decide whether to keep the insurance in effect. If you have had a recent premium increase on a universal life insurance policy and want us to review it at no cost, please give us a call. We caution you to stay away from policies, like those sold by AXA Equitable and other carriers, which could be subject to very steep premium increases.
Actuaries explain these increases are due to increased life expectancy. In other words, those individuals who bought their policies in the 1980’s through the present are receiving premium increases in order to keep universal life insurance carriers afloat, as the carriers pay out much more than they ever expected when the policies were issued. Essentially, the carriers are attempting to recoup now what they lost in the past and build reserves for the future.
What To Do
If you have had a recent premium increase for your universal life insurance policy and want us to review your policy at no cost, please give us a call. If you fall into this category, it is important that you know your options and if you have not purchased yet to take heed before purchasing universal life insurance. At Evans Law Firm, we can help.
Some of the major universal life insurance providers in California are:
National Life Group
Old Mutual Financial
Midland National Life
North American NACOLAH Life
In addition to universal life insurance cases, Evans Law Firm, Inc. handles whole life insurance policy and annuity cases and annuity fraud and insurance fraud, financial elder abuse, nursing home abuse and related cases and lawsuits in California. If you have purchased an annuity policy, or are considering purchasing one, and would like to know whether it is a suitable investment for you, contact Evans Law Firm, Inc. at 415-441-8669 or via email at firstname.lastname@example.org.