Your 401k people were correct. Personally, I do have a life insurance need: I am a parent. I locked in a term life insurance with $250,000 payout when my kid was 2. Sixteen years later, I still pay the same rate, which is $38/month. I am in my 50s. It is not an investment, it is insurance to replace my income and support for my child, which is the reason to have insurance. When the fixed rate term ends, and my kid is done with college, I will cancel it. You do not need insurance. It was sold to you for commission. Don’t feel bad - you are not the bad person here. Cancel it and go on with your great social justice life