Why wait until it's been 20-30 years and it collapses...worthless. Is it time for your life insurance audit? From a foundation of ignorance...there is a wave coming...is your life insurance even competent?

"Is there a life insurance bubble that is about to go bust?

Life insurance buyers have two main options: term insurance that only pays if you die, or an insurance policy that has a savings or investment feature. That is often called universal or whole life. It's those types of policies, universal and whole life that we are talking about.

Transamerca Corporation no longer has its headquarters in the iconic Transamerca pyramid in downtown San Francisco. The signature building is still a part of the companies logo along with the words, "Transform tomorrow."

Mary and Gordon Feller bought Transamerica policies back in the 1980s and say the company has indeed transformed their tomorrow.

"The projections we were given were based on eight percent interest rate and there was never a time where the policies earned eight percent," Mary Feller said. "Now, suddenly the cost of the insurance has skyrocketed. So when we put in $250 or $500 or $700, or whatever we put in on that quarterly basis, that money is eaten up."

"Well, here we are 25 years later. The baby boomer generation is ready to retire. Now the companies say, 'Whoa, we've got to make good on our promise? No, we're walking away,'" said the Feller's attorney Harvey Rosenfield...."


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