I have had a 20 year term life insurance policy for 5 years (since I was 45). My 3 kids are the beneficiaries of the $600,000 policy. They are 28, 21 and 13. The older 2 are independent, and my 13 year old would be in good hands with his dad (a physician). I have over $600,000 in assets that will be evenly divided between my 3 kids. The term life premiums are $548/yr and my renewal date is January. Should I keep it going? I have no health issues, and the premiums are only this low until age 60. My kids will each inherit over $200,000 each without the policy. I am afraid the next 15 years worth of premiums will just be money down the drain. Advice please!