What Happens After 20 Years Of Term Life Insurance

Canadian Lic14 Jan, 2025Finance

After 20 years of a Term Life Insurance Plan, the coverage typically ends unless it’s renewable. You may choose to renew the policy, convert it to a permanent option, or let it lapse if no longer needed. Renewal premiums often increase, so comparing Term Life Insurance Quotes is essential to find affordable options. Many opt for new policies to cover evolving financial needs. A 20-year Term Life Insurance plan is ideal for temporary needs like mortgages or income replacement, providing financial security during critical life stages.