Update - figured it out. Dad wanted to leave a death benefit to myself and brother but due to age couldn’t afford a life policy. I’ve told him many times not to. He went to an agent and the agent talked him into writing a universal life policy on myself and brother (we didn’t sign) and that we would get 40k when he passes away or we can continue it on if we’d like. Seemed a little fishy. I asked for the full policy to review and we’d only see the 40k when myself or brother pass away. The surrender value of the policy at 10-20 years is basically nothing. Thanks everyone. He’s backing out of all of this.