What Happens If You Outlive Term Life Insurance?

What Happens When You Outlive Your Term Life Insurance?

Term life insurance is designed to offer coverage for a set period—typically 10, 20, or 30 years. But what happens when you reach the end of your policy term and you're still alive and well? First, the good news: you’ve outlived the need for the coverage. But now, it’s time to think about what comes next.

When your term life insurance policy ends, it simply expires. That means your coverage stops, and your beneficiaries won’t receive a death benefit if something happens to you after the term. However, you do have several options moving forward:

• Renew the policy annually (if your insurer allows it) at a higher premium

• Convert it to a permanent life insurance policy without a medical exam, depending on your policy terms

• Buy a new term life insurance policy, though this may come with higher premiums due to age or health changes

It’s important to evaluate your financial situation when deciding what to do after your term life insurance ends. If your mortgage is paid off, your kids are financially independent, and your spouse has sufficient retirement savings, you may not need additional coverage. But if you still have people depending on your income, you might want to explore new coverage options.

For those who want ongoing protection or wealth-building benefits, converting to permanent life insurance might be a smart move. These policies last your entire life and may build cash value over time, but they come with higher premiums.

Planning ahead before your term life insurance policy expires can save you time, stress, and money. Visit ProvaLife to explore your options and make sure your future is still protected—no matter what stage of life you're in.

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