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Are these charges on my whole life insurance policy typical or excessive?

I have a $1,000,000 whole life insurance policy. I'm wondering if the following charges are customary in the insurance industry or excessive? 1. The net cash surrender value is $24,990. 2. The expense charges are 15.5% of the premium. (Which seems high to me, but I never had life insurance before.)

Public Comments

1. Cash surrender value depends on how long you've had it. With that much value, you've clearly held this policy a LOOOONNNNGGG time. The cash surrender value builds up, the longer you hold the policy.
2. A person would need more information (age and sex of the insured? how long has it been inforce? what are the premiums? are additional funds being put into the cash value?) to determine whether the net cash value is good, bad or average compared to the rest of the industry. As for the expenses, again it's dependent on how old the policy is... Your best bet would be to contact an insurance broker in your area and they can review your current policy and compare it to something similar that's on the market today.
3. It sounds more like a Universal Life policy than a whole life policy. Expenses charges of 15% is extremely high and excessive. Take your policy to a couple different local life insurance agents and have them take a look at it and get a couple of different opinions. You really need to sit down with a professional and with someone who is honest. So, if you don't find an honest agent keep looking until you find one. You really need someone local to review your policy. 15%??? Too much.