The Wall Street Journal seems to take an almost malicious pleasure in announcing that life insurance rates, even on policies thought to be immovable, are going up:
"Major insurers are breaking a long-standing industry taboo of raising rates on life-insurance policies they sold to consumers years ago, in the latest fallout from a prolonged stretch of low interest rates.
In recent months, several insurers have notified tens of thousands of people who own a type of coverage known as “universal life” that they are exercising little-used contractual rights to raise costs."
Insurance rates are going up, so Universal Life
is not the bargain it once was for man nor beast nor wife.
Policies bought long ago for their stability
are charging fees grown higher than the tides upon the sea.
It's no use our complaining, for a fee that once ascends
will come down only when mankind does not want dividends.
It's an old, old story -- you will always make a mint
when you sell to people who will not read their fine print!
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