One of my best friends told me about Mutual’s problems and is concerned because he has had a substantial whole life policy with them for a number of years and is wondering if maybe he should just end it and take the accumulated cash value.
I don’t know enough about it to even comment - suggestions?
From what I’ve heard, the life department is fine....it’s one of their strongest depts.
Our Universal Whole Life company has been sold several times. I believe that is what happens since we are dealing with investments in Whole Life. Same thing has happened with a non-investment form of Whole Life policy with a different company.
We simply received a notice of new ownership and the policies stay the same.
We investigated cashing out, but at 5%, this is our best investment vehicle at the moment. We can also borrow from ourselves at 8% w/o affecting the death benefit.