Permanent life insurance that is not permanent
Many people pay for permanent life insurance policies that have an interest component. Interest being where it is today is slowly putting these policies underwater. By that I mean at some point many of these policies will have no value -0-. No cash value and no death benefit. The current policies of this type being sold today are now typically guaranteed to age 105 or higher.
It is critical for most people to have their life insurance policies reviewed by a life insurance professional to make sure that their policies will achieve their expectations. Otherwise they or their beneficiary may be terribly disappointed.