Life Insurance Policy Raises Confusion with High Premium Payments

The couple invested approximately 2.1 million while having no debt and receiving $45,000 annually from wife's pension and social security./nThe cost of insurance is depleting the policy's cash value, which will be fully depleted in two years and will require an estimated $15,000 each year to maintain it./nThe couple has two options either to cash out the policy now and receive a check or contribute an additional $100,000 into the policy to carry another 15 years./nThey bought the policy in 1999 with an annual premium of $4600, and now the cash value is depleted./nThe policyholder realizes that life insurance should not be treated as an investment, but they paid $110,000 in premiums and have a hard time cashing out for only $31,000.