RetireJapan

Hi all,
A few years ago, I subscribed to a foreign currency-based insurance (外貨建て保険). Because of the weak yen, my monthly payment has increased substantially in recent years. Since the yen is likely to remain weak for months (years?) it will probably continue to increase and will become a financial burden. Therefore, I am considering to cancel it, but I do not know whether or not it’s a good idea sinceI I have 4 years left of payment on a 10 years contract. What would be the wiser thing to do: cancel it and invest the money in my NISA, or continue paying until the end of the contract? Thank you.

If you are not maxing out your NISA, then NISA will probably be better, yes.

You get a small tax break on some insurance-based investments, like life insurance schemes. This seems to be the only benefit they have.
I have one of these myself, although the amounts are fixed in yen, not a foreign currency.

Yes, I got a small tax break with this insurance but I would prefer to have the money invested in my NISA.
Thank you for your advice.