Can My Life Insurance Policy Be Canceled? 
You do n't have to worry about your life insurance being cancelled . A life insurance policy that was put into effect ethically will stay in effect whether you contract a life threatening disease , whether you travel to Syria , or whether you start to take drugs . No one would buy life insurance if the company had the option to cancel it on you whenever the risk changed in your life . However , you do have to keep your policy in effect through payment of the premiums -LRB- unless it is a paid up policy or using cash value to pay premiums , so that no more payments are needed -RRB- . If you get cancer and miss two payments of a term policy -LRB- and missing payments is very easy to do when people are hit with a serious illness -RRB- , you will not be getting that policy back by filling out reinstatement paperwork . So take extra care to let the insurance company know when you move or if you change banks so that your policy never lapses due to nonpayment . 