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I'm trying to understand my life insurance more to determine whether I should keep my whole life policy, trade to a different company, or surrender it and buy a term life policy.
Whole life insurance is like a Mack Truck. Term life insurance is like a family sedan. If you need to pull a 60' transport trailer, you need a Mack truck, and it would be stupid to buy a car. On the other hand, if you don't need to pull a transport trailer, you'd be stupid to pay all that extra money for a truck.