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Agree. It is true they have to honor the contracts, but only the min guarantees. I have seen several companies or types of policies from a carrier bought out. Soon after, you sometimes see things that can be changed, change. IE: WL dividend scares or UL lower interest rate to lowest & raise COI. Otherwise, not many carriers will want to buy old outdated contracts with much better worse case scenario guarantees than they can get today. I believe there are some lawsuits out there currently on ULs where the carrier that bought the contracts raised the COI even though they have not experienced worse mortality. they were merely trying to recover the losses they were experiencing from having to pay 4-4.5% interest rates guaranteed in the contract.
