If you own a life insurance policy, think twice before replacing it.

Why? In many cases, you may hurt yourself in the future.
Before you drop an in-force life insurance policy, consider the following factors:
If your health status has changed over the years, you may no longer be insurable at standard rates.
Your present policy will usually have a lower premium than a new policy of the same type just because you’ve grown older.
Even if both your present and proposed policies pay "dividends," you may wait years before the new policy’s dividends equal those paid by your present policy.
If you replace one cash value policy with another, the cash value of the new policy may be small for several years and may never be as large as the original policy.
You may have to wait one or two years before the new policy passes its "contestable" period. During that time, the insurer may cancel the policy or refuse to pay a claim if you made any mistakes or untrue statements on your application.
Before you say "yes" to a policy swap, look into your options and carefully compare policy costs and features. Request detailed cost breakdowns about your present policy and the potential replacement. Ask why you should switch to the new policy and why you should retain your current policy.
If you do decide to surrender or reduce the value of your current policy, be sure:

• to insist that the agent making the proposal puts it in writing;
• that you pass any required medical examination; and
• that you wait until your new policy is in force before you cancel the old one.

Your insurance agent can answer specific questions about replacing your life insurance policy.
Learn how easy and convenient shopping for life insurance can be. Get your free rate today before you get another year older!