For many people these days, money is very tight. The last thing that you want or need right now is to toss more money out of the window. Therefore, you need to know what happens if you pay your life insurance premium and then decide to cancel the policy. You want to know if you will receive a refund on your money.
The answer is that yes, you will receive a refund from the life insurance company, if such a situation arises. They are legally not allowed to hold onto that money, if you should decide to cancel the policy. Obviously, you will also not receive the life insurance benefits, if you had held on to the policy.