I have a life insurance policy purchased by my father when I was a little kid. Now I am paying $339 yearly for a 40k coverage. is this sufficient enough? Or should I cancel this policy and get a new one?

I have too and I questioned whether is it worth paying for the premiums. Asked around and research and decided to just keep it. Since the older policies coverage is not so specific.

Before you decide to cancel, please do find out more information regarding the policy.

1) Name of policy
2) Insurer
3) Total Premiums Paid
4) Coverage (Death, Disability, Critical Illness)
5) Current Cash Value (If applicable)
6) Projections

The above can be obtained through a call with the insurer's customer service.

Next, you need to make sure u have a health insurance for starters to cover your basic hospitalisation.

Subsequently, to address other priorities such as critical illness, Disability, Personal Accident.

Feel free to reach out to me via Facebook at
https://www.facebook.com/brandan.chen
and I would be happy to answer any queries you have