Insurance

Should I keep this whole life insurance policy?

My parents are giving me ownership of a whole life insurance policy they opened for me over 25 years ago. I know the overall consensus is that these should be avoided in most cases. However the premium is really low since benefits are low and my parents said this type of policy is no longer available since it was opened many years ago. Is it worth keeping or should I close and take the cash value and possibly look into a term policy? See below for policy values.

Policy cash value: 1602
Paid up additions: 1330
Accumulated adjust: 4.29
Net cash value: 2936
Modified endowment: No
Dividend option: paid up additions
Last anniversary Dividend: 28
Prior year increase: 98
Total Prior year increase: 126
Base annualized premium: 160

Policy death benefit: 10860
Paid up additions: 6272
Accumulated adjust: 7.44
Net death benefit: 17139

Surrender cost basis: 4522
Current year increase: 98

Net annualized premium: 180
Max dividends available: 1330
Dividends net of withholding: 1330

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