Can A Life Insurance Policy Expire?
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482It can, yes. Especially if it is a Term product, it is important to keep up with your regular premium installment payments. Since in a term contract, there is no inside cash accumulation, if the premiums are not paid, the policy will espire for non-payment of premium. In a permanent product, it may be possible to have the coverage continue without premium payment, by an automatic premium loan provision or other means. You need to check with your insurance professional about the terms and conditions of your particular policy.Answered on August 30, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Yes, a life insurance policy can expire. Some Term policies will expire at the end of the term, while others will go into years of annually renewable term (meaning the premium can go up every year) before the policy expires. Permanent insurance will not expire if it is set up to last until death at any age, and if all policy payments are on time with no unpaid loans. Some permanent life insurance policies are set up to expire at a certain time.Answered on August 30, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNTerm life insurance policies do have an expiration date. Some at the term and some have large annual increases until another expiration date. Permanent life insurance policies such as whole life or universal life insurance don't expire but endow. This means the cash value meets to face amount and the policy has meet it's obligation of being life insurance and is now considered a modified endowment contract or MEC.Answered on November 6, 2014flag this answer
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