monkey00 Posted July 6, 2011 Share Posted July 6, 2011 A year in a half ago I was convinced by an agent that I needed life insurance and the fact of the matter is that I don't as I don't have children. I don't plan on having any until a few years later. A few months ago I called my agent asking about surrendering my policy. She said I wouldn't get a dime of my money back if I were to surrender this early. I'm not even sure if I continue to leave it open for another yr or 2, and continue putting monthly payments into it - If I will get all my money back. Total right now I've contributed about $1500 into my policy which I totally regret. As an agent her argument is I could pay potentially higher premiums if I get older (and have health problems) and opened one later instead of earlier. But my policy is pretty high already as I pay $50 - 100 a month. And I understand being a sales agent, they'll say anything to suck you in. Would it be more cost effective if I surrendered (get nothing back) and opened another cheaper policy in the future or should I just keep this? (assuming nothing happens to me of course) Any advice is greatly appreciated! Link to post Share on other sites
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