Hello Heather. It is always better to point that kind of question at the situation that is uniquely yours before offing an opinion or advice. "Is it better...?" actually means "Will I advantage myself and the ones I love by doing xyz?" The set of needs that most people have (with respect to life insurance) include temporary needs and permanent needs: a mortgage is a temporary need and term covers that well, but last expenses (burial or cremation) are permanent needs and permanent coverage works best to satisfy that kind of need. I will take a guess and say that you likely have both: a larger temporary need (kids at home, a mortgage) and a smaller last expense need when you die. See how when I drill into your theoretical situation, the set of circumstances that are uniquely you help us to recommend what you might do next? Put short, you can't do well going forward without taking a small step back and looking at where you stand, That small step provides a view to what is the right thing to do. Call someone you trust and explain your situation and listen to the expert advice that you get: it is expert because it takes YOU into account first, and then recommends the best next step. Doing this any other way leaves you out of the picture, and that won't serve you well.