5k lost is harsh but not the worse in the world. I want to separate investment and insurance components. Will ask her to get term life insurance. Just dont want to let the 5k sunk cost persuade us to continue ilp for another decade.
(as u can see she now allows me make financial decisions, this policy was gotten when she was younger.. hais)
thanks all, please add on anymore views
Pls make sure she has other life insurance in place (not just approved, issued but waiting period for all diseases eg heart condition, cancer etc fulfilled) before you surrender the ILP. Not trying to jinx you but better to have an expensive insurance in place than no insurance if you need to claim. I am still holding on to my ilp (running on its cash value, not paying any more premiums) as it was bought before I got diagnosed with a pretty rare health condition.
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