Should my adult kids take over my life insurance premiums as an investment vehicle?
Normally, an insurance is not an investment vehicle. Some are-I don’t know what type of plans you have. It is a protection in case of premature death. You can give it to them, why not if they are interested being the owner since (I assume they are the beneficiary). But you can also surrender it, cash out, and give it to your children who must buy protection and are now in need of protection for the benefit of their families just as you did when you purchase it originally. Or you can sell it to a company for a certain amount, it will continue to pay your policy and it will also be the new beneficiary–if that is your desire. But before you do any of these, contact your agent of the company for advice.
