If you have not looked at the bad policy #2 yet I suggest you go back and read that one. This one follows #2 because it is on the same insured and from the same agent/company.
The only difference here is this policy is 23 years old already and it even terminates faster than the last one! Yes, you have that right, by age 73 the insured has no death benefit left because the fees and charges are being taken from cash value to supplement the premium.
If you read the blog on “bad policy #2” you remember the insured is non-insurable and has no money to get another policy that will last until he passes. Which is most likely at age 84 because he is male.
He would most likely be able to put more money into these policy premiums but guess what, he doesn’t have more money!
Make sure your policy is right from the beginning so you are not caught in this same situation. Again, call or email me and I would be happy to take a look at what you have. That is what this insured did. I am ok with that, I was not able to write another policy for them but I did help them see and understand what they have.