Hi Matthew,

Thank you for the kind comment and congrats on paying off the house!

Is it a term or whole life insurance?

Having used to sell insurance I know there can definitely be such a thing as “too much” insurance especially as your liabilities decrease.

However, insurance does (or should) play a key role in anyone's financial plan. If it were me, unless the premiums are really holding me back I would want to bite the bullet and hold onto the insurance. If the worst happens, the last thing you want to be thinking about at that moment is financial stress.

If it is a term policy, when the term comes due you might want to reevaluate and shop around for the best premium.

Also, it does not have to be an all or nothing proposition. If you think you have ‘too much” insurance you could always consider simply reducing your coverages. Be aware that if you have any health issues it might impact a future application for a new policy.

Hope that is helpful. Thanks for writing in, always appreciate it.