The premiums paid for life insurance are the cost of your life insurance policy to keep your coverage "In Force".
If you stop paying your premiums your life insurance coverage may lapse and then after a period of usually 30 days without payment, your life insurance coverage will stop due to non-payment.
You may want to choose direct deposit from your checking account to the insurance company for your premium payments each month so you do not miss a premium payment and end up with no life insurance coverage.
Here's how you can request a free life insurance quote.