Back in the 90s, my mom purchased a Metlife whole life policy and was promised there would be no more premiums after 10 years or so. Almost 30 years later, she's still paying a yearly $3000+ premium for a "paid at 98" policy.
I asked around about this and Citibank advised that we switch the policy with another one that has the same coverage, but at a cost of an extra $10,000. Does it make sense to do this? My mom is 64 this year and in good health. I would guess that the extra 10k is better than paying 3k every year for quite possibly 10-30 years, right?
Source of insurance-forums.net
I asked around about this and Citibank advised that we switch the policy with another one that has the same coverage, but at a cost of an extra $10,000. Does it make sense to do this? My mom is 64 this year and in good health. I would guess that the extra 10k is better than paying 3k every year for quite possibly 10-30 years, right?
Comments
Post a Comment