A commentor agreed that it is better to "Buy Term and invest the Difference". He asked, "What should the policyholder do, with the high cost life insurance policies purchased in the past?" Many people are caught in this situation.
My advice is given in these FAQs. Read them:
http://www.tankinlian.com/faq/existinglife.html
http://www.tankinlian.com/faq/benchmark.html
Generally, I advise people to keep the existing policies, as they have already incurred the high front-end charges. But, if the continuing charges remain too high, they should terminate the policies and invest differently.
For younger people, I strongly advise them to follow the advice given in this FAQ:
http://www.tankinlian.com/faq/savings.html
After you have read and understood the FAQ, it is all right for you to talk to a financial or insurance adviser. The adviser will be able to help you to find a low cost option. Some of the advisers do look after the interests of their clients. You can help them to help you, by being educated about the options available to you.
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