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I am 25 years old and I have been paying on an Adjustable CompLife insurance plan for 4 years now and I'm not sure if this is a good or bad investment.
What is Adjustable CompLife insurance? Should I continue to pay the premium on my policy? If I stop, can I obtain any of the monies? I have my policy with NorthWestern Mutual.
Welcome to money.SE. What scares me about the question has nothing to do with the product. It's fair to say that one should never buy something they don't understand. One should know the details of the cost, benefit, and risk (as well as can be quantified) of a financial product they plan to purchase.
Now - the first search on the words "Adjustable CompLife insurance plan" led me to this search result summary -
Adjustable Complife (ACL) allows you to custom-create your own insurance policy. ACL offers nearly limitless ways to combine permanent insurance and term
This implies there are options that we couldn't know. "Limitless" means you could have damn near anything. Somewhere, the policy needs to explain exactly what you are paying for. And if you tell us, someone will have an opinion or two.
