I removed the lifeline stops that the PO had installed; he had used depth-stop drill bit collars for the job. I've also seen them called shaft collars. They're a common item; check out your local hardware store. With the lifeline end-fittings removed, these collars easily slide over the lifeline's swaged threaded end.
Good reason to not have these: with the collars in place, a guest of the PO must have sat on the taut portion of lifeline while the pelican hook was disconnected from the sternrail, so the rear-most stanchion got bent all to $h1+ from the tension, creating a leak at the base and necessitating a repair to the stanchion.
When I'm at the dock, I disconnect the pelican and fully slacken the lifeline, pushing it all the way to the deck behind the toerail so it's not a trip hazard.