Q: I have an ins policy where I have paid 38k into. The company is raising the premiums from 80 to over 300 dollars. Legal?
I have had the policy since 1984. Now they are raising the premiums after already paying 38k in premiums. If I surrender the policy can I get any of my money back. As you see above the company is raising the premiums substantial. This is a Universal policy
A:
It depends on the terms of the policy. I could not answer this question without reviewing the policy. Many times, polices include language that allows them to raise premiums after a certain period of time.
Whatever the policy says, controls.
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