Not pretty.
71 years old. I have been paying about 3K per year for many many years (blindly) into a 200K universal whole life policy. Cash value is 43K at this point pays 4.20% dividend - but the premium each year has now gone up to 4K.
I know. Its ugly. But what to do from here?
Do I need the insurance at this point? No.
But, if I pull out the 43K it won't grow to 200K before I kick the bucket. Premium is drawn from the cash pile but I'm sure it will keep going up.
I have read many posts on this topic, but it is individual to everyone and their age and circumstance, so I appreciate your thoughts. Particularly, Stinky.![:happy]( "smile")
71 years old. I have been paying about 3K per year for many many years (blindly) into a 200K universal whole life policy. Cash value is 43K at this point pays 4.20% dividend - but the premium each year has now gone up to 4K.
I know. Its ugly. But what to do from here?
Do I need the insurance at this point? No.
But, if I pull out the 43K it won't grow to 200K before I kick the bucket. Premium is drawn from the cash pile but I'm sure it will keep going up.
I have read many posts on this topic, but it is individual to everyone and their age and circumstance, so I appreciate your thoughts. Particularly, Stinky.
Statistics: Posted by HappyJack — Sat Aug 31, 2024 7:06 am — Replies 2 — Views 289