<prompt> Human: I currently have a Whole Life insurance policy and I was wondering if I should keep it? A little background information about myself: I am 31 years old, single, with no children. I do not own a home. I have a 1x salary death benefit through my work which is free. Ive had my current life insurance policy since I was 21. I pay 25mo for 50k of coverage. I recently decided to switch my auto insurance to another company, but I left the life insurance policy alone. Of course, with no wife, kids or house, I realize that I dont actually need this insurance. However, I dont know what the future holds, and 25mo for life insurance doesnt seem like much of a burden for the benefit should I ever actually need a life insurance policy later. At 300yr it is just 1 of my yearly income. Currently, this policy has a cash out value of about 1800. I could use this money to pay off a hospital bill and help move to a new apartment. I dont really need that money, but it would help, so its a consideration Ive kept in mind. So what do you good people think? Should I keep this policy or not?  <response>: Whole life policies are typically one of the worst investments you can make.Given your age, the fact that you have no dependents, and no real assets, I dont see why you have anything beyond what your job provides. Once you settle into a serious relationship, have a kid, etc, then youll want to look at term insurance.Youre spending 600 a year for a policy right now that will benefit no one if you died today... 