whole life insurance

[bismam]

I have put in about 28K into a whole life policy that a 'friend' sold me and at the time I didn't grasp that the policy is actually not a good investment. Currently I am putting in the minimum 8K to maintain the policy...but the cash surrender value is $600 only- what would you recommend at this point just let go of the money I have put in and cut my loses?

[G]

https://www.whitecoatinvestor.com/how-to-dump-your-whole-life-policy/

[Ivy]

It would appear this is a relatively new policy.  Get out now.  Chalk it up as a Dave Ramsey 'stupid tax.' We've all been there.  Learn from your mistake, learn from others' mistakes, and put this learning experience behind you.