Switching Policies

If you already own life insurance, think twice if someone suggests that you replace it. You should ask your producer or company for an opinion about the new proposal, so you hear both sides of the matter.

Before you surrender your insurance protection, make sure you are still insurable. (Check medical requirements and any other important matters.) Also, remember that you are now older than when you first purchased your policy, and a new one may cost more because of your age. Moreover, an older policy may have provisions that are not duplicated in some new ones. This does not mean that you should reject the idea of replacing a policy you already have, but rather that you should proceed with caution.