When To Stop Paying For Term Life Insurance? 
When the premium goes up at the end of a Term life insurance policy is a good time to stop paying the premium . From that point on it will continue to go up in price annually , so unless the Insured person is very ill and does not plan on surviving for many more years , it will become cost prohibitive to keep paying that premium . It would be better to convert the Term policy to a permanent one before the premium goes up , because the conversion is not possible after that . If you are going to pay a higher premium , why not pay it for a permanent policy via a conversion , rather than one that will go up each year . 