When Should I Drop My Term Life Insurance? 
The easy answer to drop your term life insurance is when you goal for that plan is met . For example , if you purchased the plan to cover a 30 year mortgage and paid it off early and have no further need for the protection you should drop it . If the term is met and the rates increased drastically you may want to drop it and apply for another policy if your health is still good . Another scenario may be retirement and the nest egg is fully funded with no unforeseen circumstances , it could be time to drop it or convert it to permanent life insurance or paid up life insurance if the need for a death benefit still exists . 