Review early
Start before the level term ends so there is time to compare the remaining need, conversion rights, and any new underwriting.
End of term
What happens when term life insurance expires?
At the end of a level term, coverage may end or continue under a renewal schedule that can be much more expensive. Some policies also offer conversion rights. The policy—not a general rule—controls the options and deadlines.
Reviewed for clarity and compliance · September 2026
Renewal can be costly
Annual renewable premiums after the level period may rise sharply with attained age. Check the schedule in the policy.
Conversion has rules
Conversion may avoid new medical underwriting but can be limited by age, date, product, amount, and administrative deadlines.
Four paths to consider
The right path depends on whether the original need still exists and whether health has changed.
- Let coverage end because the need is gone
- Keep some or all coverage under the renewal schedule
- Convert eligible coverage under the policy rules
- Apply for new coverage and keep the old policy until the replacement is in force
Ready to make this specific to you?
Use your age, state, coverage amount, term, tobacco use, and general health to create a more useful starting point.
Start my comparisonCommon questions
What shoppers ask
Do I get my premiums back when term insurance ends?+
Standard term insurance generally does not refund premiums. A return-of-premium product is different and must be identified in the contract.
Should I cancel the old policy after applying for a new one?+
Avoid creating an unintended coverage gap. Review replacement rules and wait until the new policy is issued, accepted, paid, and in force before changing existing coverage.