What Happens When Term Life Insurance Expires

Canadian Lic17 Jan, 2025Finance

When a Term Life Insurance Plan expires, the coverage ends, leaving beneficiaries without financial protection. At this stage, you have options: renew the policy (often at higher premiums), convert it to a permanent plan, or let it lapse. Renewal can offer temporary protection, while conversion provides lifelong coverage. Exploring Term Life Insurance Quotes Online helps you compare costs and find the best option for your needs. Reviewing your financial goals and coverage early ensures a smooth transition before the policy term ends.