I find it hilarious that states, like my beloved Alabama, that won't allow gambling (except dog tracks) allow insurance companies to operate. What do you think insurance is? Gambling. You say, (as you pay your premium) "I bet I'm going to die this month!" The Company says, "Bet you won't!" You're still alive - you lose! Next month rolls around and you whip out your checkbook saying, "Bet I'm going to die..."
If you have life insurance, keep in mind the reason you bought it. You have a spouse or children who will face severe hardship without your income. If you have no spouse or children, why do you have insurance? If you are single, you do not need more than maybe a tiny little term policy to pay for your burial, which does not have to be elaborate.
If you are saving for retirement, again, a whole life policy might be wise. But refrain from over-insuring yourself. Don't get caught up in policies for specific diseases or conditions: cancer, aids, nursing home. It's a sucker's bet - the odds are so slim that you will ever cash in on these. Why do you think the insurance companies hire the math majors to work their actuarial tables. They know what the odds are, believe me. Do you?
Balance prudence for your family's finances with faith in God and His provision.
Who are you going to trust today?