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I have a friend who has a 30 yr term with shelter. He says they told him they could raise his premiums after 15 yrs. They would have to raise everyone's premiums is what they told him. Does anybody know anything about this?
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30 year term period with guaranteed premiums of 15 years...Not really a good deal for the consumer...You might want to visit with them, and see if you can't get them a traditional 30 year term with guaranteed premiums
Well that was the plan. But I would like it to sound like I know what I'm talking about. What causes the prem to jump? Anything else that will make me look smart?
Well that was the plan. But I would like it to sound like I know what I'm talking about. What causes the prem to jump? Anything else that will make me look smart?
WinoBlues said:They can raise it pretty much for any reason. Also, they can raise it every year if they choose. Best to read over the policy with him. Show it to him in his policy.
Mattschmidt said:Some P&C companies, and Primerica have these types of policies..Often times, it's not in the clients best interest...Do what Wino Blues suggested, review their policies with them... Then show then an alternative, and you will look like a hero!