Whole Life Policy - Northwestern Mutual - Should I surrender it? - PLEASE HELP!
Hello,
I purchased a WL65 policy for Northwestern 3 years ago (Im currently 30).
My monthly payment is $220 until age 65 for what was originally a $133,000 policy.
My current "Net Death Benefit" is listed as $141,000 which was the projected value of my non guaranteed death benefit at age 36 according to the illustration I received when purchased meaning my policy is exceeding the expected increased value by roughly 6 years based on the original projected non-loan dividend interest rate of 5.00% which was setup to be used to purchase paid-up additions indicating that my return has been higher than that amount.
My Dilemma:
Would I be better off using my $220 each month and investing it into the S&P500 instead of continuing to make payments into this policy?