Expert Q&A

Speak with a local licensed agent in your area

It is actually not that hard and you don’t need some salesman with fancy terminology to explain it. You need to do a simple cost-benefit comparison for both contracts, and ask some simple questions. What are paying and what are you getting out of it? How else can the money be used more effectively and so on.

The easiest way is the call the current company and ask for an in-force ledger. This will calculate what your policy has been doing and how it will continue to perform. It is very important to have the representative not skew the performance to show better results and run it at a conservative rate. (you can even ask to run the ledger at the rate the policy has been performing at) Run the policy that you are considering at the exact same rate with the exact same premiums to see what performs better whether from cash value or last longer.

Unless you are well versed in insurance you need to sit down with an agent that can help you compare. An honest agent should give you unbiased feedback.