<prompt> Human: Hi,I could really use your advice to help my mom out with her finances. She has always handled the families finances and household as well as our family business which is our sole source of income. Her and my father work 7 days a week however they have no savings and have accrued liens and other financial debt that they have no account of. They are immigrants and really dont understand many of the complexities of the US financial system. Id like to focus on one issue first and try to figure it out. I remembered that my mom said she had a retirement plan and life insurance. I thought maybe since we need money to pay off immediate debts it would be an option to take a loan against her policy as her other options would be bankruptcy or higher loan interests. I go online to her insurance agency and create an account only to find out that she has a universal fixed life plan and thats it no retirement plan. Shes got 300,000 in coverage has paid over 8000 in premiums and has a accumulated cash value of 18.98. This just doesnt seem right and a surrender value of 0. She has 160 a month automatically withdrawn and was under the impression she was saving for retirement. Now it seems the the only benefit is when she dies and thats no benefit at all. Shes still young and would end up paying a good bit more into this and not getting anything in return. Am I missing something? I called the agency and our agent wasnt available. We have trusted him for over 10 years with our business. My mom actually already finished a 10 year term life plan with him and its terms are over. Im meeting with him on Monday hopefully, I would like to fix this matter asap along with other things so that I can insure my parents are on the road towards financial stability which looks like an uphill climb. What is the best way to address and handle this situation or am I just as confused and this is actually a good plan? Update:So we just had the meeting and the insurance agent refuses to take blame, using my moms language as the reason for her not understanding. He even got mad at me when I told him the facts of the policy and that he was making commission every time he sold her a new policy. He stated he doesnt SELL anything to anyone. What a liar, thats the entire basis of his industry.Apparently, 121 goes into her life insurance premium and the 40 remainder goes into the cash value. I asked him why he wouldve ever decided on that amount when my moms goals were to save up for retirement. He kept saying now we need to come up with a number for what you need to retire. That conversation shouldve been dealt with when the plan was set up. Im having a hard time explaining to my mom the sunk cost fallacy and then he wants to set her up with a ROTH IRA. Whats upsetting is all these years she couldve used the funds towards something else. Now that shes 48 and has no retirement fund, I dont know what the next steps should be. He took away those options for her to properly invest in the future.Reddit what should we do now?  <response>: Might want to get ready to prepare a letter to the State Attourney General and possibly even a lawyer to look over the paperwork and what was signedagreed to. 