Are you working in a high-risk area or are traveling anytime soon? Then it would be good to invest in term insurance. As the name suggests, term insurance is only for a season—only during the time you are paying for it.
This means that if you stop paying, then the coverage is stopped and the benefits are forfeited. If something happens to the payor while the insurance is in effect, then the beneficiaries get the full privileges. If not, then the premiums will go to the company.
Term insurance has its advantages and disadvantages. But it can work for some people.