When Should You Stop Buying Term Life Insurance? 
You should stop buying term life insurance once your financial goals are met . If you are debt free , no loved one depends on your income , or your business would thrive without you , then it is probably time to stop buying term life insurance . It may also be time to consider either converting or purchasing cash value life insurance to protect your insurability and to have the flexibility to use the cash value funds for other things such as retirement or an unforeseen critical illness . 