Can You Stop Term Life Insurance? 
Stopping a term life insurance policy is fairly easy . The best and preferred way to stop coverage is to write your life insurance company requesting to cancel . All correspondence must be in writing to protect both parties , never just call and cancel . You will receive a confirmation . Most life insurance companies will allow you to reinstate , or change your mind , up to 180 days by paying back premiums . After that time period you will have to reapply for coverage . The second way to cancel a term life policy is to stop paying your premiums . The policy will lapse after your 31 day grace period . While this method is maybe the easiest , you will receive a lot of correspondence from the carrier , warning the lapse of your policy . It is always best just to write , mail , scan or fax your request and be done . 