Blending existing whole life policy

[kneelix]

What is the name of your state?What is the name of your state?What is the name of your state? CA

I have a whole life policy with New York Life that I bought in 2000. It has a paid up additions rider on it but not a term rider. I recently found out about blending whole life and term into a policy to reduce premiums compared to a whole life policy. I was not presented this option at the time I was sold the policy.

Is there a way to change the existing whole life policy to a blended one retroactively at this point? Or am I stuck?

I asked the agent who sold me the policy if this could be done and he flat out said no.

Thanks.

 

[somarco]

Each company handles their policies differently. I cannot say for certain that what you have been told by the NYL agent is correct. What I can tell you is I have never heard of a carrier issuing a rider (of any sort) after the policy has been issued . . . much less after 5 years.