I think he may be a bit one sided on life insurance.

When I got divorced, we liquidated the "universal" policies I had set up, (they were essentially "whole life" policies each with an investment component).

It was a good decision. Good luck with your choices.

The purpose of life insurance is to provide some measure of financial protection to the beneficiary if the insured dies. You're paying for that protection, so if you don't need it I'd cash in the policies and invest the proceeds plus the recurring premiums you're still paying on them.

And, if that's truly what your financial advisor told you I'd think about getting another one. Sounds like they're parroting what they learned in financial advisor school - and not analyzing your situation to determine what's best for you.

They know the odds and always win in the long run. Ok to bet a little once in a while, but nothing wrong with cashing in your winnings now.

old-school answers to new situations, and is probably getting a commission from the underwriters.

But one of the reasons your financial advisor may think you should hold is that life insurance payment on death is not taxable in the US. Cashing the policy's in MAY be taxable. Also are the policies all on you? You and spouse individually, second to die policies? Also are you trying to leave money to anyone else like children or family. There are a lot of good reasons to leave them if you do not need the money to live at this point.

We are both drawing US SocSec, and file taxes in the US and France, but under the tax treaty only pay in the US.

No kids? Your only concern is to pay for your needs the rest of your life.

That way, we don't get dinged on our taxes,