Parent’s life insurance ridiculous premium increases

Hi there, so my mother gave me the documents of her life insurance policy that myself and sisters are beneficiaries. But reading through everything, I seem to be misunderstanding or confused on future premium increases.

She’s currently on year 10 of a ‘Term Life Insurance to Age 95, and it says renewable to age 95, convertible after 5 years.

Her premiums are scheduled to be over $1,200/month by age 65 and it goes even crazier at age 75 where scheduled premiums are to be over $9,000 a month!

She started the policy at 44 years old, non smoker/non tobacco/nicotine standard risk. No health conditions, no cancer, no diseases, no illnesses. It’s a 250k face value policy that now says benefits after 10 years have increased to $500k.

Is this normal? How in the world is a normal 75 year old woman supposed to afford $9,000 a month? That’s completely asinine. God forbid she hits 80 and they want to charge her $15,000 a month. This sounds like a scam or something.

Let me state that I’m going off the policy’s listed “scheduled non-guaranteed modal premium.” There’s no way they’re honestly trying to charge a 75 year old 9k a month is there? Like she doesn’t even make 9k a month now, let alone at 75. Am I crazy here? Am I missing something? Should I tell her to look for another policy? She’s currently under National Benefit Life insurance company.

submitted by /u/Euphoric-Tonight9842
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