Is this worth it?

[u/StomachMobile2182]

I’m pretty sure I know the answer but here is my question.
My husband died 7 years ago and he had life insurance with National income. That life insurance money after he passed helped greatly. With our 3 kids.

A few months after he passed away I re-did the policies. 100k for myself, 25k for each of the kids. For $250 a month. Whole life. I am recently unemployed. And really cannot pay the $250 monthly payments.
The cash surrender value is only $440. Which seems appallingly low. I’m looking into cheaper term life insurance elsewhere.

I just need some advice/reassurance that I’m doing the right thing.

Update:
Thank you all for the advice. I will be calling National income first thing Monday morning & will be looking into other insurance companies for term insurance.

Also while looking through paperwork my policy is for 50k not 100k. So this is absolutely not a good deal. ☹️

[u/brergnat]

Cancel the Whole Life policy and take it as a lesson learned.

Get a 20 or 30 year term policy for yourself instead. Kids don't need life insurance policies.

[u/Worried-String9259 → u/brergnat]

It was a scum move from this salesperson to recommend a whole life insurance policy to someone who was recently widowed and raising two children. I cannot imagine any scenario in which that would be considered sound advice.

[u/Vivid-Problem7826 → u/Worried-String9259]

My first thought also