Your personal finance questions: Should I cash in my life insurance coverage since its cash value has decreased?

Q I am 74 years old and pay €198 a month on a single life policy that is worth €157,000 for death or disability (non-indexed). I have seen the cash value drop from €21,000 to the current €9,000. Should I collect it or continue paying the monthly installments?

AN It sounds like the policy he has is called a unit-linked whole life policy, said Richard Jones of Aviva Life and Pensions. This means that the policy will pay (assuming the required premiums continue to be paid) the full amount of €157,000 on your death.

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