Larry, Insurance company contracts are NOT open-contracts. This concept of being able to change terms of the signed contract after the fact is something that fraternal societies can do that an actual company can't. Hence my example of the fraternal society that assessed a lien on policyholder's accounts. Part of the reason I won't sell a fraternal society benefit is because of the guaranty association issue. There are too many of these little societies running around selling life and annuity. Many don't even bother to release their financials in the literature because they suck. If they do go bust, the guarantee associations don't step in and NO ONE is going to want to buy them because of undisclosed/small/weak financials. Bad situation IMO. The other reason is contract law. As a professional, I broker contracts between a company and a consumer. Fraternals DO NOT have to hold to the contract. They can change the policy terms years after the issue date. Even the big fraternals (Woodman, Thrivent) have done this and reserve the right to do it in the future. Oh, and Woodman and Thrivent can't be taken to court for it either - contract law.