Hi
The link below is my uncle's MetLife Policy:
My uncle is 70s and he pays $25,480 annual premium for 17 years. Could anyone answer the questions below?
1) Does my uncle need to pay $25,480 annually until age of 98?
2) If yes, could he use "paid-up status" option to reduce some death benefit, but no more future premium?
3) He received the dividend for $9,893.45 from 2017 to 2018, but the cost for this policy from 2017 to 2018 is only about $2,100. Will the dividend cover the cost of this policy in the future?
4) Do you suggest switching this policy to GUL if my uncle is still healthy?
Because my uncle's insurance agent is passed away already. Metlife does not answer my questions and ask me to check with agent, but the new agent is not that trustworthy. Therefore, just ask these questions here and hope someone can help. Thank you.
The link below is my uncle's MetLife Policy:
My uncle is 70s and he pays $25,480 annual premium for 17 years. Could anyone answer the questions below?
1) Does my uncle need to pay $25,480 annually until age of 98?
2) If yes, could he use "paid-up status" option to reduce some death benefit, but no more future premium?
3) He received the dividend for $9,893.45 from 2017 to 2018, but the cost for this policy from 2017 to 2018 is only about $2,100. Will the dividend cover the cost of this policy in the future?
4) Do you suggest switching this policy to GUL if my uncle is still healthy?
Because my uncle's insurance agent is passed away already. Metlife does not answer my questions and ask me to check with agent, but the new agent is not that trustworthy. Therefore, just ask these questions here and hope someone can help. Thank you.