Can You Cancel Life Insurance? 
Yes you can cancel your life insurance . However , if it is term insurance -LRB- also called temporary -RRB- it will be money lost and no policy will remain . With whole life or permanent , you may stop paying but continue the policy from the equity you may have accumulated . Or borrow against that equity , never having to repay it , keeping it tax free , while the policy remains in effect . But yes , even here , if it is what you want , you could cancel the whole life policy , getting the cash surrender value to keep , but it would be taxable and your policy would be ended . Thank you . GARY LANE 