I admit that's unfortunate. I don't think that was a "bad deal" in the sense that anyone grievously misled you or anything.

I would feel bummed out, but not angry or like I actually got ripped off, in other words. When I signed up for the 20-year term, part of what I was being asked to do was estimate how likely I think it is for this firm to actually be around for that full 20 years. That's just part of the game.

Maybe in some platonic ideal, but in practice a) consumers (and even brokers) aren’t that sophisticated, and b) likelyhood of the company being around in 20 years isn’t baked into the price. When I shopped for insurance there were only 3 options with contract terms that passed muster, and all three companies are large ones that I’d expect to be around in 20 years to a degree that has no relation to the price quotes I got.