Hello. I don't usually post on here so I apologize in advance if I leave out anything important.
In 2002, my father bought a 250k life insurance policy from MetLife. The agent there told him he would only have to pay a premium of about 3k per year for around 10 years and he would be all paid up.
Fast forward 15 years, the agent is now telling him that due to a drop in interest rates (??), the pay period has been extended to 20 years. However, the payout is also better (??). When asked if this is subject to change, they said that is dependent on the interest rate which they have no control over. After reading the policy myself, I have the impression that my father is supposed to pay until 98...so I'm completely lost on where they're getting these numbers from
I have zero experience in this field and plan to speak with the agent myself to get a clearer understanding of the situation. I was hoping to obtain some basic information here before I call so that I'm not going in completely blind. Images of the policy information below.
Submitted July 13, 2018 at 01:12AM by LoLMunchyMunch https://ift.tt/2ujSqGv
