What Happens When Term Life Insurance Ends?

The short answerWhen the term ends, coverage stops unless you act. Most policies give you a few choices: let it end, keep it going at a much higher price that usually rises every year, convert it to permanent coverage if the policy allows, or apply for a new policy. Start looking a few years before the end date, especially if your health has changed.

Your options

Let it end. Fine if the kids are grown, the house is paid down and you have savings.
Annual renewal. Many policies let you continue year to year, but the price typically climbs steeply.
Convert. If your policy has a conversion option and you're within the deadline, you can switch to permanent coverage without new health questions.
Buy new coverage. Priced on your current age and health.

Why conversion deadlines matter

Conversion windows often close before the term ends, sometimes at a certain age or policy year. If your health has changed, conversion may be the only way to keep coverage without new underwriting. Check your contract or ask your agent now.

Do you still need coverage?

Run the numbers again. Many people near the end of a term still have a mortgage, a spouse who relies on their income, or want to leave something behind or cover final expenses.

Get your own number in about 3 minutes

Our free Family Needs Analysis walks you through it with your real numbers. No sign-up needed to see your result.

Start the free needs analysis

Related free tools

FAST calculatorSee where money leaks each month and what you could redirect toward protecting your family.See what you may qualify forAnswer a few health questions and see which options are likely to fit.Mortgage coverage calculatorStart with your loan balance and monthly payment.

Common follow-up questions

Do I get my premiums back when term ends?

Not on a standard term policy. Return-of-premium term is a separate, higher-cost option.

How do I know if my policy is convertible?

Your policy contract will list it, including the deadline. Your agent can check it for you.

Is it too late to buy new coverage in my 60s?

Usually not, but the price is based on your age and health now.

What if my health has gotten worse?

Conversion, if available, can be valuable because it doesn't require new health questions.

Keep learning

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What happens when my term life policy ends?