That depends on the type of life insurance policy you have.

There's term life insurance and permanent life insurance.

Term life ends when:

1. You stop paying the premiums for your coverage, or 

2. The "term" of your policy expires, or

3. You die during the "term" of your policy, then a death benefit is paid out to your beneficiary.

Permanent life insurance ends when:

1. You Stop paying your premiums, or

2. You die and the death benefit is paid out to your beneficiary.

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Is term life insurance better or whole life?

The answer depends on your own personal needs and situation.

Term life insurance may be a good idea if you are on a budget, need the most life insurance for your money, or need life insurance for 30 years or less.

Whole life insurance may be a good idea if you really need lifetime protection that will not end, or you want to build up cash value inside your policy over time, in addition to having life insurance.

Term life is temporary and provides pure ...
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The type of life insurance plan that meets your needs is the one that is better between term or whole life insurance.

Also, some people have a need for both types of life insurance because they need term life for their short term needs, such as, protecting their growing family until they are adults, and whole life insurance for their lifetime needs, such as, providing for their final expenses and estate taxes.

But, if you have a need for 30 years or less, then a term life insurance policy can b...
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