When my term ends for term life insurance what happens?
If, for instance, you have a 10 year term policy and you are alive when the 10 years expires, your life insurance coverage ends with no payout.
If you die during the term of your term life policy, your beneficiary receives the death benefit from your life insurance plan.
If your term is about to end, you may choose to renew your term life coverage for another term, which will charge you a higher premium based on your age at the time you renew your coverage.
Usually, term life policies may be renewed for a term of 5 or 10 years.
Or, you may wish to purchase a new life insurance policy based on your needs at that time.
Learn more about term life insurance policies
If, for instance, you have a 10 year term policy and you are alive when the 10 years expires, your life insurance coverage ends with no payout.
If you die during the term of your term life policy, your beneficiary receives the death benefit from your life insurance plan.
If your term is about to end, you may choose to renew your term life coverage for another term, which will charge you a higher premium based on your age at the time you renew your coverage.
Usually, term life policies may be renewed for a term of 5 or 10 years.
Or, you may wish to purchase a new life insurance policy based on your needs at that time.
Learn more about term life insurance policies
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