A Redditor, aged 55, evaluates his $3 million term life insurance policy against his substantial liquid net worth of $7.5 million. While the $2,900 annual premium is manageable, he considers whether to divert that investment into more lucrative assets. Given his good health and strong financial standing, the utility of the life insurance policy seems reduced, particularly as he cannot predict his need for such coverage without potential health concerns or pressing financial dependents.
The Redditor has a $3 million term life insurance policy costing $2,900 annually, but with his $7.5 million net worth, he considers whether to keep it.
With healthy finances and children in college, the Redditor questions the necessity of the life insurance policy since it may no longer serve a critical purpose.
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