# My mom has a Universal life insurance for 100k she got back in 2003.I hear that whole life sucks so im not sure if this is a bad insurance policy **URL:** \ **Category:** Insurance\ **Created:** [January 5, 2023, 7:06pm UTC](https://community.clark.com/t/my-mom-has-a-universal-life-insurance-for-100k-she-got-back-in-2003-i-hear-that-whole-life-sucks-so-im-not-sure-if-this-is-a-bad-insurance-policy/1989 "2023-01-05T19:06:20Z")\ **Posts on this page:** 5\ **Page:** 1
**Author:** ![Ragnarok](https://sea2.discourse-cdn.com/flex016/user_avatar/community.clark.com/ragnarok/32/626_2.png) [@Ragnarok](https://community.clark.com/u/Ragnarok)\ **Post date:** [January 5, 2023, 7:06pm UTC](https://community.clark.com/t/my-mom-has-a-universal-life-insurance-for-100k-she-got-back-in-2003-i-hear-that-whole-life-sucks-so-im-not-sure-if-this-is-a-bad-insurance-policy/1989/1 "2023-01-05T19:06:20Z")
She’s 76 and is paying 180 quarterly with north American company insurance. I’m clueless about insurance and we weren’t sure if she should keep it or pull out. I’m just curious what are the negatives of having this type of policy. I also noticed after 2026 that her death benefit goes to 0 on the Guaranteed basis in one of the uploaded pictures which isn’t making any sense to me. ![firefox_P3IiyO6EjI](https://us1.discourse-cdn.com/flex016/uploads/clark/original/2X/1/1afc84d3f212706b54dbfb4de8cb2438a05dcafe.png) ![firefox_dwscnSRxJC](https://us1.discourse-cdn.com/flex016/uploads/clark/original/2X/f/fb497c8c5126f513ef36705a302c48f0d7216a6b.png) ---
**Author:** ![p1g1](https://avatars.discourse-cdn.com/v4/letter/p/cab0a1/32.png) [@p1g1](https://community.clark.com/u/p1g1)\ **Post date:** [January 6, 2023, 11:50pm UTC](https://community.clark.com/t/my-mom-has-a-universal-life-insurance-for-100k-she-got-back-in-2003-i-hear-that-whole-life-sucks-so-im-not-sure-if-this-is-a-bad-insurance-policy/1989/2 "2023-01-06T23:50:19Z")
Clark in the past has recommended in the past using the services of a retired actuary who was a state insurance commisioner. The cost is $150. The service is offered through the Consumer Fereration of America > **[The CFA’s Rate of Return (ROR) Program | Evaluate Life Insurance](https://evaluatelifeinsurance.org/)** > > Our Rate of Return program estimates investment returns earned on whole, universal, indexed universal, and variable universal life insurance policies. ---
**Author:** ![yankee466](https://avatars.discourse-cdn.com/v4/letter/y/ecd19e/32.png) [@yankee466](https://community.clark.com/u/yankee466)\ **Post date:** [January 21, 2023, 1:34am UTC](https://community.clark.com/t/my-mom-has-a-universal-life-insurance-for-100k-she-got-back-in-2003-i-hear-that-whole-life-sucks-so-im-not-sure-if-this-is-a-bad-insurance-policy/1989/3 "2023-01-21T01:34:31Z")
She bought a UL policy with little or no guarantees, as it makes for a cheaper policy…so depending on interest rates, the policy can run out of gas without increases in premium. Who ever sold it to her should have explained that. If you want guarantees, you buy a NLGUL…which stands for No Lapse Guarantee Universal Life Policy…and you can structure the premiums to make sure that the poloicy will never lapse prior to age 90…95…100…whatever you want. Whole life policies are typically more expensive,but have full guarantees and may also build cash value. Dave Ramsey would be upset with any permanent insurance too…but there is a valid place for these plans for some people. ---
**Author:** ![Smartpolitics](https://avatars.discourse-cdn.com/v4/letter/s/65b543/32.png) [@Smartpolitics](https://community.clark.com/u/Smartpolitics)\ **Post date:** [January 21, 2023, 5:17am UTC](https://community.clark.com/t/my-mom-has-a-universal-life-insurance-for-100k-she-got-back-in-2003-i-hear-that-whole-life-sucks-so-im-not-sure-if-this-is-a-bad-insurance-policy/1989/4 "2023-01-21T05:17:00Z")
Definitely agree with the evaluate life insurance Her situation now is likely different when she bought the policy but it’s frustrating if after almost 20 years that the policy hadn’t paid for itself ---
**Author:** ![jaydub](https://avatars.discourse-cdn.com/v4/letter/j/e9bcb4/32.png) [@jaydub](https://community.clark.com/u/jaydub)\ **Post date:** [January 26, 2023, 9:23pm UTC](https://community.clark.com/t/my-mom-has-a-universal-life-insurance-for-100k-she-got-back-in-2003-i-hear-that-whole-life-sucks-so-im-not-sure-if-this-is-a-bad-insurance-policy/1989/5 "2023-01-26T21:23:55Z")
Don’t worry abou the guaranteed rates. That is worst case scenario and very unlikely. However, if she is in good health, I can tell you that you are better off cashing it out and putting that money somewhere else.