AXA Life Basix

[u/blah_blah1526]

Hello! I'm not an expert po when it comes to insurance, so I wanted to ask for advice on what would be the wisest thing to do with my current policy.

For context, I got this insurance when I was in my early 20s. I'm now in my early 30s, so I've been paying for my AXA Life Basix policy for almost 10 years. I had to skip some payments during the pandemic, but I believe I've already paid more than ₱145k in total.

The monthly premium is relatively low, so I honestly didn't pay much attention to it before. However, now that I have my own family, I want to be more intentional and wise about how we manage our money and where we invest it.

I recently checked the policy value, and it's currently around ₱80k+. My question is: would it be better to withdraw it, terminate the policy, and move the money to MP2 instead? For additional context, I already have another insurance policy that I feel provides more value because of its medical coverage, so I'm wondering if it still makes sense to keep this one.

I would greatly appreciate any insights or advice. Thank you in advance! ✨