Flexible Premium Adjustable Life Insurance Cash Surrender Question?

Flexible Premium Adjustable Life Insurance Cash Surrender Question?

My husband & I have had a Flexible Adjustable Life Insurance Policy since for some time now. The benefit is only $50,000 for him and $35,000 as an additional rider for me. We bought it as added security when the kids were young and we had bought our first home. We are still paying premiums of $30 per month. We were thinking to take the surrender value of $7100 because now we both have full time jobs that have life insurance, kids are grown and our mortgage is to a point that if one of us passes, then the other makes enough to pay the mortgage and bills without the other one. We just aren't sure if this is advisable to do. Will we regret doing this? Any opinions would be very helpful.

 

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