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krustymeathead t1_jadvujt wrote

Reply to comment by BoxingRaptor in I'm half way paid up on a Statefarm 10 pay life insurance policy. Not really sure what I got myself into, did I make a mistake? by [deleted]

I also find this PBS video to be informative regarding [whole life] vs [term life + investing yourself]. I agree with what everyone says here. Cash it out now. You've got sunk costs but don't let that stop you from getting out.

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DTS_Sanchez t1_jae365w wrote

I appreciate it! I had a feeling I was caught in a trap, but ill cut my looses and be done with it at this point!

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StarryC t1_jaf4rck wrote

And, $2,500 isn't the worst cost if you can cash it out now! It is more than you would have paid in Term Life, and you didn't need life insurance at all. But, I wish every financial mistake I made between 25 and 30 only cost me $2,500!

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