Q: I just got the annual statement for my "whole life" insurance policy. Should I just toss this, or do I really need to read this thing?
A: You should read it. Here's why: With whole life insurance, the monthly cost of insurance increases as you get older. If you have a loan against your policy, or if you chose a low premium option, then at some point the current level of premiums won't be enough to keep the policy in effect, and it will end.
By reading your policy's annual statement on a regular basis, you'll be able to increase the amount you're paying in premiums so that you can prevent this from happening.