You said in your original post that the difference between the account value and the surrender value is $6,000 right now.I still have 2 years until the cash value = the surrender value so it might make sense to hold it for a while longer to not loose that money too.
In posts above I said that you’re paying about $1,632 per year too much for the life insurance. I also said that you’re paying about 0.60% too much for investment fees. If I multiply your $218k account value times 0.60%, I get $1,308 per year in excess investment fees.
So - to “save” the $6,000 surrender charge by staying in the policy two years longer, you’ll spend an additional ($1,632+$1,308) X 2 = $5,880.
Net savings by staying in the policy two more years is $120. About $0.16 per day.
As I said upthread, you’re getting hammered on fees. Every which way you turn.
Statistics: Posted by Stinky — Wed Sep 11, 2024 10:09 pm — Replies 19 — Views 1342