Every year I got statement from insurance company asking me to pay more, otherwise I need to pay more than 20 years. I am thinking the 20 years paying period may extend to my whole life because the returning rate has been always lower than I was told first time by the agent. I never see a detail table telling me how much the premium it will be through the rest of my life. The only thing I know is that the premium will jump every 8 years. I wonder I will need to pay more than $300/month when I am more than 60 to keep the UL (that sounds unaffordable at that time). I just couldn't find a real example of the UL premium from an old person.
I am regretting I made a quick decision at the very beginning. I could spend the same amount of money ($25 a month) to get a coverage of $300,000 or more if I had bought Term. For kids' care, that's much more useful than $100,000 (as the UL I have right now) in case I did lost my life.
I am regretting I made a quick decision at the very beginning. I could spend the same amount of money ($25 a month) to get a coverage of $300,000 or more if I had bought Term. For kids' care, that's much more useful than $100,000 (as the UL I have right now) in case I did lost my life.