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Is there any reason I need to save old annual premium statements showing annual premiums, interest due, loan information and cash value? -- (amount of information and amount of reports varies by carrier)
thanks.
thanks.
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The last time I did talk with an agent about the coverage, he wanted me to close out both policies and buy a new one. The only reason that didn't happen is I did not have cash value information to give him. I have seen posts here suggesting older policies are sometimes better than newer ones, I don't really understand all the technical reasons, but that leads me to believe the change the agent wanted me to do back then would not have been in my best interests so I am not going to reopen those discussions with anyone.
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Thank you.
I have online access for bill pay.
I have original application paperwork plus a significant portion of 40 years on annual paperwork. I've saved it all, I'll see if I can bring myself to part with some of it.
Allianz just sends an annual statement showing premium and maybe accrued interest, you have to look at original policy or call them to get current cash value.
Penn Mutual sends twice as much reporting, an annual invoice plus a separate report of cash value and death benefit.
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I think my wife or kids can easily handle death claims directly with the carriers.