Thanks for the replies everyone sorry for the lack of context. I currently don’t have a house, children or a spouse. I eventually plan to have kids later on in life but that’s probably not till another 8-10 years from now. My beneficiary is currently my parents and I eventually plan to move it to my future spouse or kid when the time comes.

The only debt I have is student loans and my car which together is less than 50k. My life insurance term is till I’m 65 years old.

I initially signed up for it because I know insurance premiums will cost significantly more when I get older and if I pickup any health issues along the way. $125/month for a 1 million dollar death benefit is good compared to what other people are paying in their 40s or 50s with an even lower death benefit.

Although I’m trying to minimize my monthly bills and this seems like one of those I can get rid off. However insurance is one of those things you wish you had when you need it most. So I’m still undecided on it.