Are you meaning to sell it at a good percentage of the death benefit? or for the surrender value? If he gets a good value for it and does not have anyone to depend on the death benefit, it can be a good thing. Selling it for the surrender value usually just recoups some or all of the money invested in it, so isn't useful except to get rid of paying premiums.
Kathie, this is called a viatical settlement. If you do a computer search there are lists of steps someone should take prior to such a move. Is it a permanent insurance policy (Whole life or Universal life for example. If so, there may be a cash value that can be borrowed.) I'd urge you to take a complete inventory of all assets for your loved one(s). There may be other options as well -- houses that aren't being used? Jewelry beyond what family would treasure. Good luck.