When Can You Drop Life Insurance? 
Life insurance indemnifies your family beneficiaries or business partners from financial liability and/or future obligations . Life insurance should be purchased for a financial reason . If that reason ceases to exist than you can consider dropping your life insurance . Since medical and funeral expenses never go away , everyone should have life insurance to pay for it . You can use your own cash reserves and prepay it , but it may not be the prudent thing to do . 