What to Do When Your Term Life Insurance Policy Runs Out

Steps to Take When Your Life Insurance Policy Expires


All good things come to an end. This is especially true for life insurance policies. If you’ve recently come to the end of your term life insurance policy – congratulations! You’ve outlived your policy and you’re still around to tell the tale. What you may know is that term life insurance doesn’t always “expire” at the end of the term period. Instead, the low rate you’ve been paying expires. The term period is set when you purchase the policy and can last from anywhere between 5 to 30 years. When your life insurance in Antioch, CA ends, you will be faced with a series of options.


Even though your term period has expired, your policy may still have value to you. If you find that you still need life insurance protection, you do have options for extending, converting or renewing the coverage.


  • Shop for a new term life insurance policy

If your state of health is rock solid or relatively good enough, it is time to shop for a new level term insurance. You may need to pass a medical exam and, in most cases, pay the standard amount for an individual within your age range.


  • Convert your term policy to permanent insurance

If you have poor health, are much older, and do not want to undergo any form of medical examination, you can convert your existing term policy to permanent insurance. Keep in mind that you must convert within the period the term policy allows you to do, and permanent insurance tends to be more expensive than temporary coverage.


  • Renew or extend your expired term life insurance

You may be able to renew your soon-to-expire coverage without undergoing a medical examination. This is a good option if you want to acquire coverage for a certain number of years.


You may also have the option to decrease your death benefit or sell your life policy. Have more questions about life insurance? Contact Jack Stone Insurance Agency who can help you find the right policy for your needs and wants.

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