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Universal life policyholders in US go to court over rising premiums

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In addition to Transamerica, consumer advocates say, other companies have been notifying customers of large rate increases for universal life policies, including AXA Equitable Life Insurance Co and Voya Financial.

New York

SOME consumers who bought universal life insurance policies decades ago are now facing premium increases in the double-digit percentages to maintain the policies. The policyholders have limited options, since finding affordable replacement policies would probably be difficult now