When
the term of a term life policy has ended, either:
1. The life insurance policy ends, which means there is no longer any life insurance coverage, or
2. The life insurance policy goes into an annually renewable term, unless
3. It has a rider or feature
that enables it to enter a new level premium for a term of 5 or 10 years usually, at a higher price.
This new
annually renewable premium is much higher than the original term life insurance premium was
and can go up every year after that.
Learn how level term life insurance plans work and how you can get guaranteed level rates on your life insurance policy for up to 30 years.
