{ "media_type": "text", "post_content": "I have a whole life insurance policy for my young kids. Feel like I’m getting fee’d to death. Anyone have thoughts on this? Is it better to just invest in stocks and take my lumps with the market?", "post_id": "5cc6ec98c08118001d219b46", "reply_count": 7, "vote_count": 1, "bowl_id": "5a132326cd67e40013c10dfc", "bowl_name": "Public Accountants with Children", "feed_type": "bowl" }

I have a whole life insurance policy for my young kids. Feel like I’m getting fee’d to death. Anyone have thoughts on this? Is it better to just invest in stocks and take my lumps with the market?

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Get rid of it. Get the cash pay out. Get some advice from Dave Ramsey. Just did this with my husbands policy and gave the cash back to his mom. You likely have more basis than the cash you receive, so no gain to be reported. Expensive mistake unfortunately 👎

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*we have a 529 plan as well

Term is all you need

Why not use AICPA life insurance. Has a nominal kid policy too

Thanks everyone. We’ve spent a decent amount on it so far but I’ve decided to walk away. I’ll consider it an expensive life lesson

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