When Should You Drop Life Insurance? 
Dropping life insurance is not usually advised , as we all die someday . However , there are circumstances to dropping a policy . The first would be becoming independently wealthy with no debt . Whether you sell a business or win the lottery . The next reason would be if a term policy were to expire . Practically all term policies increase premium ten fold when the term ends . This will force a policy owner to change and give an underwriter another chance to look at a person 's health history , lifestyle , occupation changes , etc. . Otherwise , try to change a policy not just cancel one . 