<prompt> Human: I just got married, so my dad moved my life insurance policies over to my name so I could put my husband as my beneficiary. He wants me to keep paying on them, but my husband and I are both graduate students and we really dont need an extra bill right now. However, they have quite a lot accumulated on them, so Id like some advice on whether its worth it to keep them or not. First one - American General Extended Term. Issued in 2001 when I was 13. Its 16.40 mth196.80 per year. It is a 30K policy with a 9,660 build-up not sure if this goes away if I leave the policy, but I can probably call and find out. At the age of 28 next year, I can increase the policy to 34K with no increase in rate. It has a waiver of premiums. Second one - State Farm - whole life. 10K policy 10,258.87 in dividends this stays even if I cancel the policy. It also has a waiver of premiums, and is only 5.80 a month. This one has been in effect since I was only a month old, so my parents have put in almost 1900. Other relevant info: healthy, 27F and 29M, no kids yet maybe in the next few years, both graduate students with stipends planning on graduating next year and getting 40-50Kyr post-doc positions, no house, both make enough separately to live on our own, 2 dogs, currently have just over 52K in student loans on deferment, 12K of which is interest, but were very close to getting all of the interest paid off. Our hunch is that we dont need the policies and we can just get a 20 yr policy when we have kids to make sure they have enough to get through life if we were to pass away when theyre young, but that might be more expensive in the long run? Also, Im not sure about what we lose, or if we can cash out any of those dividends now, or if theyre only payable upon death. Thanks for your help  <response>: Our hunch is that we dont need the policies and we can just get a 20 yr policy when we have kids to make sure they have enough to get through life if we were to pass away when theyre youngI agree. You have no need for life insurance now, and will likely never have a reason to even consider permanent life insurance. 