What ever you do, do not change your parents life or accident insurance until they pass away.
My sister had been bugging me that we were paying for accident insurance on Mom that was of no value and convinced me to cancel it the end of 2013. Mom died in 2014 via an accident that took her life and we just found out yesterday that had we kept it, we would have received 1 million dollars in death benefits.
Don't do what I did!!!