What Happens When Life Insurance Term Expires?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    When a life insurance term expires, a few things can happen, depending on the features of your term policy. Sometimes, the policy will simply end, and you must get  new one if you want to have continued coverage. Sometimes, the policy can be extended at a higher price or lower face amount. You will know this when you take the policy out. Another thing that might happen is that the policy is changed from a level term to an annually renewable rate. This rate is much higher than your original premium and goes up every year.
    Answered on November 2, 2013
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