A family member has a policy that she's trying to decide whether to stay with or not, I'm not that familiar at all with Life insurance. She's apparently been paying $55 a month since 2005, the policy is set to expire in 2048 which apparently is at the age of 100 and is standard for this sort of policy. It says the current cash value is just over $2300 but if she were to cash out now and stop paying, the actual payout is just over $1700 so I guess there's fees and early termination. apparently she bought the policy from a family friend without really understanding it, it seems to be worth only 25K. 1) isn't $660 a year awfully high for a 25K policy? Is that because of her age at the time she took out the policy, I think she was 57 at the time. 2) is there any real reason to keep such a policy, she's already paid almost 8K and the payout is only 25K. She has 3 kids that will be able to help financially should she pass away and her husband is still alive so with the payoff being that small seems kind of pointless to me? If it was 500K yeah, keep paying but 25K at this much a year I just think makes no sense? Just trying to see if there's something not obvious that I'm missing that would make it advisable to keep paying on such a policy.