If you own a term life policy you have several options to choose from when your coverage expires, including:
- You may go without life insurance.
- You may purchase a new life insurance policy.
- You may be able to renew your expiring policy for an additional policy term, usually up to 10 years.
Keep in mind, if you have health issues you may want to renew your term life policy if you need it, since your health may prove difficult for you to qualify for an affordable life insurance plan.
Learn more about what happens when your policy term expires.