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Respected Contributor
pigletsmom
Posts: 2,144
Registered: ‎11-21-2011

Re: Life insurance

‎05-20-2020 08:30 PM

If someone needs that money to survive after the other passes then I'd keep it. If you have enough savings, the house is paid off etc, then I'd toss it.

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Esteemed Contributor
Nuttmeg
Posts: 5,457
Registered: ‎03-09-2010

Re: Life insurance

[ Edited ]

‎05-20-2020 08:30 PM - edited ‎05-20-2020 08:32 PM

@lovesrecess

 I would cancel this and place the cash in the bank. Companies enjoy taking advantage of seniors. 

My sister and her husband have two policies like yours. She is now paying $8000 a year. She will look for another policy. 

These cost of these two policies were reasonable before she retired. 

 

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