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Retirees Stung by ‘Universal Life’ Cost
(By - LESLIE SCISM, www.wsj.com)
Retired high-school teacher Nicholas Vertullo long felt confident that his wife, Grace, wouldn’t have to pinch pennies after he died. Nearly three decades ago, he bought a $238,000 life-insurance policy, and later bought three more policies, pushing the death benefit to about $500,000. But he didn’t anticipate the policies’ annual costs would rise as much as they did, jumping to about $30,000 combined. Read more…
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