If you are insured by a term life insurance policy, and you don't die during the Policy Term, then the following happens:

• 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 origi...

Continue reading ...