by KYW's Salil Gutt

There is something disconcerting happening in the life insurance industry. Consumers who could be affected are those who bought cash value policies like whole life, variable, and universal life insurance policies.

Insurance companies in other segments of the insurance business raise premiums every year when things are not going well. You have certainly noticed that. 
  
In the life insurance side, things get murkier. There are no premium increases, but the companies take out increasingly larger portions of the premium you send them to cover expenses. The consequence of these increasing costs are that policies will lapse earlier. 
  
In English, if you think your policy will last your lifetime and benefit your heirs, you may be wrong.

Take the following action. Call up customer service at your insurance company and ask for an "in-force policy illustration." You will know right away whether your policy ends at age 100 or age 75.
    
Many agents are prospecting for new business by telling people their old policies will lapse earlier. Don't buy any new policies until you are certain that you have no recourse against those who sold you the old policy.