Debating on canceling my life insurance policy??

I purchased my 30 year term life insurance policy ($2M) about 8 years ago. Since then, I lost my business and everything else a few years ago. I received a judgement that is greater than my life policy. I'm wondering if I'm wasting my money on continuting to pay on the policy. If I should pass prematurely, I would want my spouse and son to receive the money, not the judgement debtor. I'm trying to interpet civil procedure california section 704.100. Can anyone with legal/professional knowledge answer this question with certainty. Thank you.