When Should I Cancel My Term Life Insurance? 
The best time to cancel your term life insurance is when the need for coverage ends , the term expires , or when the policy resets the premium rates . Life insurance is an important tool to provide security for your family . You can confidently cancel your policy when you have enough assets to provide for your family if you were to die . Most people never reach the point where they have enough assets to provide for their family without life insurance . When a policy reaches the end of its term you may be able to continue the policy , but at a much higher rate . If you are able to find an alternative policy at a lower rate , it may make sense to cancel then . 