They bought this when I was a toddler because people were saying it was a good investment, but it wasn't.
They went to cancel it and the salesperson said its paid forever, no need to worry.
But I looked at the policy and it seems like after 10-15 years, its gunna start requiring my parents to keep paying premiums?
image:https://ibb.co/T1N2FGZ
The premiums are $947.58 and the dividends are $377.23. They're withdrawing the difference from "Additional Paid-Up Insurance" portion which is $8858.77 if Im understanding it correctly.
Won't that eventually run out in a little over a decade, and they will have to pay around $600 a year to make up the difference between premiums and dividends?
Submitted May 27, 2023 at 11:30PM by Individual-Bicycle15 https://ift.tt/M9gRIZJ
