65 Life Insurance vs. Term Life Insurance?

65 Life Insurance vs. Term Life Insurance?

My wife and I currently have 65 life insurance which we pay about $130 per month for the two of us. After listening to her friend Suze Orman she wants to get rid of the 65 life and get term life insurance. 1st question is what do you think is better and 2nd is how easy is it to settle your current life insurance to cash out and if you stay with the same company can you roll your current $value into the new term life? Thanks

 

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