Should I keep my policy?

I have a term life policy that is still good for 20+ years. I took out the policy when I was doing fertility treatments with the intention of being a single parent by choice. I wanted to ensure if something happened to me, whoever ended up taking care of my child would have some financial resources. As we all know, life has a way of doing its own thing. The treatments never worked, that plan is officially dead. I am a single person, with no intentions of having that change.

So, with the intention of the policy being moot, would it not make more sense to cancel my policy and redirect the premiums to a retirement product?

Other factors for my estate – I have life insurance on all my credit products (car, mortgage etc). I do have a 3x salary policy with my current workplace. I know that wouldn't follow me if/when I leave my employer.

I guess my thinking is that I would rather enjoy the premiums now/in my retirement than leave a hefty estate to some ungrateful neices and nephews.

Thoughts? Feedback?

Thanks for your time and opinions.

submitted by /u/CannonballChristine
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