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As discussed below, Financial condition is generally measured by the financial ratings of such companies as Moody's, Standard & Poors, Fitch, A.M. Best, and Weiss, and as a general rule one would want to buy a policy from a company that was in the top 2 categories of A.M. Best and no lower than a rating level "5" of the other rating agencies. While there is less concern today than a decade ago, insurers occasionally fail and there's no equivalent of the FDIC to insure your cash values. Carrier financial condition: things change for life insurers as well. Of course, those initially purchasing home insurance and finding their timeframes longer than anticipated may decide in favor of switching to a UL or VUL. Changing insurance style, consistent with the fact that our needs and attitudes may change over time, owners of VUL might find their risk tolerance moderating to the point where a No-Lapse UL or Whole Life style policy may be a better fit.

Your underwriting category has improved since you bought the first policy, but the insurance company refuses to amend your current policy to reflect such an improvement. Here are issues that could compel looking at a new policy: Important new features that can't be added to existing policies: newly developed living benefit riders, including Long Term Care provisions that give the policy owner the ability to draw down on a policy's death benefit to pay for those eligible expenses. As homeowner's insurance policies and new associated features are developed, it certainly makes sense to determine whether a switch to a new policy provides a net gain on the basis of something other than the numbers. Change is what's most constant in our lives, and we shouldn't expect long-term financial decisions to survive without some adjustments. Policies that don't work out the way we expected are the result of some combination of significant changes in our economy, market volatility, our desire to get the best deal and/or the inclination to skip a premium we don't have to pay.