When Should I Stop Paying For Life Insurance? 
If you have a Term policy that has entered the annually renewable period , you will probably want to stop paying on that policy and purchase a new one at a more reasonable price . If you can convert the policy before it enters the annually renewable period , that is all the better . If you have a Universal Life policy that is losing cash value each month , you also may want to look at getting a new policy . It depends , as it may be fine the way it is . But if it looks like it will end before you want it to , and if you can get a new policy at a reasonable cost , you may want to stop paying on that policy and get a new one . 