/biz/ - Business & Finance

hi /smg/, my parents roped me in to some permanent life insurance while i'm in school and now i'll be done with that soon so I'll be paying the premiums from then on. I'm 99% sure my parents just duped by the "financial advisor", but i've already had this life insurance plan for a few years, and now it's a question of whether it's still smart to cut my losses right now or if I'll be much better off just continuing it to the end.
Now that im using my corona NEET bux cheques as a student and getting much better returns (around +40% thanks to tech), This life insurance is a fucking scam to me. What's the point of these measly 7%-10% gains (which eventually becomes a lower 3% yearly after i stopped contributing) if i can do much better with stocks? And that's considering the full death benefit, withdrawable cash value while i'm still alive is irrelevant for the most part and just a bonus.

>$95/monthly premium for 20 years
How do I salvage or make the most of this situation? There's already a sunk cost of ~$4000 from my parents into this plan so there's really only ~$19000 over 15 more years to pay. Keep paying or cut losses? If I put that money into stocks instead i'd probably be richer after all. As for life insurance needs, eh i guess i might have kids eventually and i'd prefer not burdening my immediate family with funeral costs if i do die prematurely, but that's it?

i tried asking elsewhere and no one else knows, and outside of /smg/ it's just crypto currency in /biz/