I you own a term life insurance policy and it is about to expire, you may have any one of several options available.

You could choose to do any of the following:

  • Let your life insurance coverage expire and go without life insurance if you no longer have a need for coverage.
  • Renew your policy for another term, usually up to 10 years, with your renewal premium based on your age at the time you renew your policy.
  • Choose to purchase a new life insurance policy from a different life insurance company.

Here's how to compare term life insurance rates and plans from several leading life insurers.