Thanks for your reply I understand this a bit better now, I did think it was a fixed term, but its a joint life.

thanks again

I assume you took out a joint whole of life policy as opposed to a fixed term assurance? If it is whole of life policy then you have to take the view that a claim is much more likely now (or in the next few years) than at any time in the last 15. Whether you continue to pay or not is your personal choice but I wouldn't look at in on the basis of 15 years of premiums being more than the policy is worth - how many people haven't claimed a penny on their house / car insurance yet we still insure because of the 'what might happen ' element.

Hi there, I took out a joint life insurance policy on my Parents 15 years ago, it was only to cover them for death just enough to cover their funerals, ive now paid more than the policy is worth, should I still have to pay this, they are mis seventies and still relatively healthy.Any advice would be appreciated.