- The is no payout of any death benefits, since are are still alive.
- The life insurance coverage ends, and you pay no more premiums.
- You may have the option of renewing your term life insurance policy for another term, usually up to 5 or 10 years, at a new rate based on your age at the time of renewal.
However, you will need to contact the insurer before expiration of your original policy, there may be a date in the policy by which time you are required to notify the insurer of your intent to renew your coverage.
Learn more about what happens if you don't die during the duration of your term life insurance policy.