B
I found, as I got older, that any need I had for life insurance diminished, and have not had a policy for many years. OP, consider your situation, and ask yourself if you need to continue the policy.
... You may find that all you want is a policy to cover funeral expenses...
I'm pretty sure that if you're in good health you could replace this policy with a much cheaper one. The mortality charges on policies that are 20 years old were never adjusted for improved life expectancy.I cannot stop paying after 20 years as there is no value on surrender. If this had been genuinely explained to me when signing up I would never have purchased it. The broker is deceased and the new agent assigned to my policy has gone to ground and is not replying to any correspondence. Any advice would be appreciated
I would query why anybody at age 65 or over would pay for life insurance. Presumably at that stage, certain assets have been obtained which can be offset against liabilities should the need arise. The person paying for the life insurance is certainly not going to benefit personally by any payout.
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