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actually have to pay. And what you must pay could dramatically increase over time. How could this happen? Because life insurance quotes for cash value policies can be based on not only guaranteed projections in policy illustrations but also very optimistic non-guaranteed projections. As it turns out, many quotes for all forms of universal life and whole life insurance are based on the non-guaranteed portions of policy illustrations, says Barry Flagg, founder of independent life insurance research company Veralytic. (This does not apply to term life insurance, which has no cash value.) Essentially, it’s a bait and switch: You think your life insurance quotes reflect what you’ll pay as long as you own the policy, but years later you could be hit with a need for unexpected, extra premiums. ....