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Term Life Insurance

What happens when my term life insurance expires?

When the term ends, coverage simply stops, and if you're still alive, no death benefit is paid — this is a core feature of term insurance, not a defect, since it's priced to only cover the specified period.

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Depending on your policy, you may have the option to renew annually at a much higher premium reflecting your current age, convert to a permanent policy without new health underwriting (if your policy includes a conversion privilege), or shop for a brand-new term or permanent policy.

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It's wise to review your options 6 to 12 months before your term expires so you have time to explore conversion or new coverage while you still have options.

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