Actually, if you are alive when your life insurance policy expires, nothing happens, other than you no longer have life insurance coverage.
There is no death benefit paid out, since you are still alive at the time your insurance expires.
However, if you have a Return of Premium term life policy, you will receive almost all of your premiums back.
But if you have a regular term life policy, you will get nothing back.
Learn more about what happens when term insurance ends.