Retirement Disaster Looms For Universal Life Policyholders

The insurance industry has a dirty little secret that threatens the retirement plans of millions of unsuspecting families.
The problem is buried in the fine print of universal life policies, widely promoted since the 1980s as a new and improved version of the old-fashioned whole life insurance product our grandparents relied on as the surest way to save for retirement.

Based on my experience as a financial advisor, most people have no idea about what they’ve already lost and will discover in time that there was no “sure” in their insurance. Instead, the insurance companies shifted their risk on to their policyholders.

Complete Article by John E Girouard, Forbes.com

5 Factors That Could Raise Your Insurance Rates

If you’re a smoker or extreme skier, you might pay more for insurance. Here’s why.

 

Insurers consider a dizzying number of factors in determining premiums, so it's often challenging for consumers to understand why they're paying higher rates than their neighbors or co-workers. "All the consumer can do is ask questions when they buy insurance and get comparison apples-to-apples quotes and hope they're getting a fair shake," says Amy Bach, executive director of United Policyholders, a nonprofit insurance resource.

Here's a look at five factors you may not realize affect your insurance premiums.

Complete Article by Susan Johnston, US News