Reader: I was introduced by my colleague to your blog and only started to read it last night. Many useful tips indeed and I really regret not reading it earlier. I am single and 47 this year. I bought an ILP from Prudential for an assured sum of $100,000when I was 27 for an annual premium of $2,000 for death, PD and CI. My surrender value now is about $40,000. Shall I follow your blog advice to terminate it and purchase a term policy till 62? Currently almost half of my annual premiums is used to cover the cost and will escalate once I enter into my 50s.  Any advice would be greatly appreciated. What is the purpose of insurance? AK: (Alamak, paid $2,000 a year for 21 years and now can get back only about $40,000?) Since you have read my blog on the subject, you know why we should not mix insurance with investment......