I inherited a whole life policy from my defunct 25-year marriage. At first thot I should cash it in, as it costs almost 30 bucks a month, and right out of the gates of freedom I was in full Bag Lady Mode (that’s when a new divorcee thinks she’ll soon be living under a freeway overpass). But I was persuaded to keep it because by the time it came to me it was earning more than than the premiums cost. It’s now worth over $25,000; I believe it’s supposed to be worth 30 grand at maturity. So it’s something I can cash in when I retire in a couple of years, adding to the other investments. . .and if I croak over before then, my son will get 25 or 30 grand, tax-free.

But….I don’t understand well enough how the things work to know what it really costs and whether it was a wise investment. Today, would you make a better choice by putting 30 bucks a month into an index fund?