According to the Wall Street Journal 92% of insurance policies lapse. If you currently have life insurance that exceeds your current needs you may want to consider the investment value of your policy before letting it lapse Many people assume that the value is only the amount that is offered by their insurance company. However that is not alway true. 
We can take qualifying insurance policies and obtain bids from institutions that are interested in purchasing the benefits. Many times this is substantially more then the insurance company offer. Look at some of the examples below:

Male : 56 (Living with Cancer )
Term Life policy
Face Amount $100,000
Cash Value $0
Life Insurance Settlement Paid to Customer $63,000 

Female :82
UL Policy - Face Amount $1,500,000
Payments $125,000 Annually
Life Insurance Settlement paid to Customer $450,000

Female: 78
Term Policy (conversion) $250,000
Payments $15,000 a year
Cash Surrender $0
Life Insurance Settlement paid to customer $61,000

If you have had a life changing event and want to determine the value of your insurance you are on the right track.