A term life policy expires at the date of expiration listed in the life insurance policy contract on the declarations page.
If the insured person dies from a "Covered Cause of Death" while the term policy is "In Effect", the "Beneficiary" makes a "Claim" on the life insurance policy and the death benefit is paid out.
If you outlive the duration of your policy term, the coverage expires.
If you wish to continue your coverage, and you have a renewable term life policy, you may choose to renew coverage for an additional term, usually up to 10 years, when your initial policy ends.
With renewable term life plans the insured will not have to take a medical exam to verify insurability for the renewal policy.
Learn more about when term life insurance expires.