Hi. When I was born my parents put a $25k life insurance policy on me. I'm 25 now and the premium has been transferred to me. It costs about $12/month. I am married and make the majority of our combined income.
I have a life insurance policy worth $150k through my employer which costs about $2/month. We have a decent amount of savings and no debt except for our mortgage.
My parents paid about $3k into the policy over 25 years, and its worth about $1k currently. A pretty poor rate of return.
Should I discontinue this policy and invest the money elsewhere?