When Gary Lebbin turns 100 years old in September, hanging over any celebration will be one very costly fact: His life insurer aims to cancel two policies totaling $3.2 million in death benefits. The Lebbin family has run up against a provision that exists in many life-insurance policies. Policies have expiration dates, and the one in the Lebbin family’s two contracts is age 100 for the policyholder. It is a standard feature...

Source: Wall Street Journal July 20, 2017 10:52 UTC