What are my choices when my term life insurance policy expires?

If you own a term life plan you may have a few options available when it expires:

  • You may let your coverage expire and go without any life insurance.
  • You may choose to renew your coverage for another term before your original plan ends.
  • You may choose to buy a new life insurance policy.

Keep in mind, if you need life insurance beyond the original term of your policy, it may be a good idea to renew coverage because if your health has changed, you may find it difficult to qualify for a new life insurance policy in the future.

Learn more about your options when term life insurance expires.