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Should you surrender your policy?
Before you make the final decision to surrender your policy, take a moment to consider the following:
Does the need for the Policy still exist?
You originally took out your policy to cover a specific need, a need that may still exist. If so, you should
surrender your policy only after examining all other options. For your benefit, we strongly urge you to
contact your Customer Service Representative at 1-800-526-2295 for more information.
There may be other options.
As an alternative to surrendering your policy, you may be able to access your policy values through a
policy loan or partial withdrawal*. This would ensure that the policy death benefits (minus the amount of
the loan) would continue to stay inforce. Other options may allow you to minimize your out-of-pocket
expenses for this coverage.
You may lose money.
Life insurance is a long-term commitment. In the first few years, essential expenses incurred by the
company in setting up a policy (commission, administrative cost and underwriting expenses) must be paid.
If you surrender your policy in those first few years, you may get little or nothing back. Early surrender
charges and tax consequences may also apply and any replacement policy would incur the same
You may lose growth potential.
You may lose the benefits you have already earned as well as any future accumulation potential. Before
making the decision to surrender your policy, please allow us to provide you with a projection of your
You may lose other benefits.
In addition to the future growth in your policy’s cash values, your policy also provides one vitally important
benefit: a lump sum payable on the death of the insured. If your family depends upon your income, this
lump sum benefit will help them maintain their standard of living. A single person can use this benefit to
allow executors to pay business or personal debts along with final expenses.