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Certainly there has been an evolution in policy types, from Whole Life through Variable Universal and Equity Indexed UL. The first important question to address: What is a "new" policy? It's also easy to see why it seems to make sense to policy owners to upgrade the "old" one with the "new" one if an agent approaches us with a newer type of homeowner's insurance that's come on the scene. So if we discover that our homeowners insurance isn't "working," we're conditioned to the notion that perhaps we should replace it. We've also been convinced to replace perfectly good computers and other high tech gadgets when newer versions appear to have faster/better/niftier features. Neither have I!).

(Have you seen an appliance repair store lately? (This discussion is generally more applicable to indeterminate premium-type policies.) In spite of what has been described so far about the various types of homeowner's insurance, at a practical level there are really only two kinds of homeowners insurance: the kind that's being suggested for you to buy and the kind that you already own. If your UL premium offset isn't working out, should you exchange to a no-lapse UL? Should you switch to a UL if you currently own a VUL? A second question to ask is whether this "new" VUL is better than the VUL you have now. But is a "new" policy recommendation being made primarily through its policy illustration (and therefore "numbers" orientation) or is it the result of a process that might suggest that your insurance style has changed?