O.K., so the census is that Variable Universal Life is not the greatest idea. Well, we have had a VUL policy?

Question

since 2002. Should we try to get out. What about the Surrender charge? What is the best thing to do?

Answer 1

As soon as enough time has elapsed to avoid the surrender charge, get out. I'm not an insurance person, so I don't know if there's an industry standard. Maybe you'll get lucky and the surrender period will be 5 years, meaning you might be able to bail sometime this year.

Good luck!

Answer 2

To quote Monty Python . . . RUN AWAY! RUN AWAY!! Get out of it as fast as you can. No use throwing good money after bad.