By JULIE CRESWELL and MARY WILLIAMS WALSHAUG. 13, 2016 | New York Times
Like clockwork, Sara and James Cook paid $452 a month for life insurance. That is, until a letter arrived last year telling the elderly Georgia couple the premiums on the policy they’d had for 25 years were rising sharply.
They held a universal life policy, a popular type that includes an investment account that accumulates cash when interest rates are high. But with rates at historic lows, it was being drained — quickly.
When the Cooks’ daughter, Jo Ann Sparks, asked an expert to explain her options, she recalls: “He […]