life insurance dilema

silenti

After 15 years of paying life insurance payable of upon death £132,000 i had to reduce payments due to redundancy so the payment on death is now £11,000. can anyone advise whether i should cut my losses and cancel altogether keeping my monthly payments of £30 in my pocket?

ACG

Nobody can advise you of that on here.
Nobody can tell you whether you are getting a good deal or not either as there isnt enough information.

Do you need life insurance? If you do, then some cover is better than non at all, if you dont then cut your loses.

Speak to a Mortgage or Financial advisor and see what they suggest. They may suggest your better with another product or find you a cheaper alternative such as more cover for less money or Family Income Benefit instead (which is a monthyl amount rather than a lump sum, so is usually cheaper).