Question about Participating Life Insurance Policy in Canada
Hey all,
I am currently 28 years old and ever since I was 19, my mom/dad has been paying into a 20 Year “estate achiever participating life insurance”
The premium is $2,558 CAD a year, we are currently on year 9 of the insurance. Guaranteed $150k death benefit. I do not have kids but am getting married soon.
I’ve never looked into this in much detail until my father passed away as he had been paying for it. We are 9 years into 20 years,
would it be bad to surrender it now? Since we’ve already put $25k into it and the total cash value is only $6524
What should I be doing
Hey all,
I am currently 28 years old and ever since I was 19, my mom/dad has been paying into a 20 Year “estate achiever participating life insurance”
The premium is $2,558 CAD a year, we are currently on year 9 of the insurance. Guaranteed $150k death benefit. I do not have kids but am getting married soon.
I’ve never looked into this in much detail until my father passed away as he had been paying for it. We are 9 years into 20 years,
would it be bad to surrender it now? Since we’ve already put $25k into it and the total cash value is only $6524
What should I be doing