confused and concerned???

We, just like a lot of people , are having a difficult time with some decisions due to the economy.My husband has a universal annuity life policy. Up to this year the interest credited has paid for the balance of the premium that was needed and did not affect our cash accumulation. In 2001 I was diaganosed with a stage 4 cancer and we unfortunately took our eye off this policy and of course concentrated on my treatment. I feel that it is part our fault and part our ins agent's fault as he also took his eye off the of this policy also. This year the cost of the insurance is also decreasing our cash accumulation. We would need to put in quite a lot more to fund this policy in order for it not to lapse in a few years. I
am concerned that the premiums will go up and up and we will not be able to afford the premium. Is there an option of what can be done now? My husband is 59 and has a few health issues and also a smoker. Our goal would be to only pay off a few bills with this as we do not owe alot . Only 3 years left to pay our mortage off and normal expenses of utilities and a car. No cc debt or other loans. Term seems high for his circumstances. We ho have Ira and 401 k although the 401 k has taken a beating as everyone knows. What options should we look at? We live in Ohio and it is not that we do not trust our agent rather want to know what to pursue with him if anything