When your life insurance gets sick
Some firms use complex financial manoeuvres to pay hefty shareholder dividends
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New York
LIKE clockwork, Sara and James Cook paid US$452 a month for life insurance. That is, until a letter arrived last year telling the elderly Georgia couple the premiums on the policy they'd had for 25 years were rising sharply.
They held a universal life policy, a popular type that includes an investment account that accumulates cash when interest rates are high. But with rates at historic lows, it was being drained - quickly.
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