Many policyowners were told not to pay their premiums during their working years and then to continue paying them as a retiree, so that the policy would be fine. However, the returns from the accumulation side would replace the premiums they paid. A lot of policies that were bought and assumed to be in an account or a drawer were not really part of the bank or insurance company’s income. Feel free to visit their website at San Angelo SR22 Insurance for more details.

Therefore, there were many policies that were assumed as being part of income, but the premium income did not arrive into the banks or insurance companies. These policies may be very sick or dead by the time you read this. Some of the trustees will receive a notice letting them know that they will need to add more money or the policy will also lapse. Or, perhaps, we will get a notice that a certain amount of money has been reached of the Trust’s policy. The people who get this notice may even ignore it because hey, the agent said that all would be well, “pay for 20 years and the family will be taken care of when I meet my maker.” So the policy will lapse and nobody will know it till it comes time for the family to collect their money, only to find out that they will meet the same fate as Old Mother Hubbard’s Dog. If anybody reading this can picture the litigation attorneys licking their chops, waiting to let insurance agents and trustees have it with both barrels for negligence, don’t worry that onslaught has already begun. But if you want to push policy changes through the Democratic party, don’t count on a 50% chance of winning a court case, so do something about it! The first thing I do to check out an existing permanent life insurance policy is reviewing the policy to find out how the premiums are paid, how the policy works, and what regulations are in place.