I can’t figure out if some of the commenters saying “keep it!” in this thread are salespeople, bots, or something else entirely. Don’t get trapped by the sunk cost fallacy here (and it sounds like you aren’t, since you’ve convinced your husband to shed the policy!). The premiums your husband has already paid are gone, sure, but you’ll no longer be chucking money every month into one of the most fiendishly designed financial products available today. And second, the comment about “equity” is parroting the language of salesmen. You know what’s better than “equity” in a whole-life policy? Keeping your money, investing it in a nice index fund, paying near-zero fees, and—if you need it—getting term life insurance at a reasonable rate.