If you have a whole life policy right now, should you surrender because you don't need it?

Any coverage you have paid should have served you a reason. However, if you really genuinely require to surrender the policy, you may wish to approach me so I can help you to get the best value out of the policy.

How do you define need? Do you know?

Have you considered if there's a multiplier? Or for what purposes a whole life plan with critical illness coverage can have after a typical term, like 65 or 70? How about how it scales with inflation with a bonus guaranteed after declaration?

I do think you should really speak to a consultant like myself who has a lot of experience dealing in this area.

Typically what I'll do is do some calculations based on 1) how long you've paid for the policies, 2) how much you could stand to lose, 3) whether it's worth keeping in relation to the value of the policy (some whole life policies are extremely good), etc.

I'll also calculate what will happen if 4) you buy Term and how I can help you invest the rest, 5) what kind of yield is required to break even on losses and make some gains that are higher than the whole life policy, etc.

ADDing on to what I copied and pasted from a similar answer, I've dealt with old AIA plans and GE plans from the 1990s. These tend to have really high cash values, so I think it's very important for a professional like myself to make sure you don't surrender it needlessly.

Please do contact me so I can help you with this.

https://www.facebook.com/luke.ho.54