My Son-in-Law Told Me How to Save for the Future. But Now I Think He Actually Meant His!

My advisor’s concern (and mine now) is, why do I have a $500,000 term life insurance policy that I just renewed last year? AdvertisementAdvertisementAdvertisementAdvertisementIn the back of my head I think my daughter and her husband are having me save up for THEIR future. I am sure it will raise suspicions with them when I ask to have that term policy canceled. Dear Bad Financial Advice From Family?,Let’s start with what life insurance is actually for: replacing income that other people depend on. You almost certainly don’t need term life insurance.