I'm in my 50s with a $3 million term life insurance that I don't have a need for - should I keep or cancel it?

Term life insurance isn't necessary when you're financially independent. With $7.5 million in assets, the Reddit user likely doesn't need coverage for his family.

Given his financial situation—liquid assets, a paid-off home, and fully-funded college accounts—his family would not face financial hardship should he pass.

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