Police Your Policy Now

Wayne Bohrer, a 55-year-old federal employee, bought a $50,000 whole-life insurance policy eight years ago, thinking it would be paid up by this year, when he qualified for retirement. But last September, Bohrer's annual premium notice called for a ninth payment of $1,218. When he requested more information, he got a shock: His policy had not been accumulating value at nearly the rate he expected, and it would take at least five more years of $1,218 payments--or 60% more cash than he planned on spending--to keep the policy in force. Bohrer is canceling his policy instead.

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