Whole life policies cash out?

[bcool]

3. If you don't need the protection of insurance, I'd say cash them in

The purpose of life insurance is to provide some measure of financial protection to the beneficiary if the insured dies. You're paying for that protection, so if you don't need it I'd cash in the policies and invest the proceeds plus the recurring premiums you're still paying on them.

And, if that's truly what your financial advisor told you I'd think about getting another one. Sounds like they're parroting what they learned in financial advisor school - and not analyzing your situation to determine what's best for you.