What happens if I outlive my life insurance policy?

The outcome of this situation depends on the type of life insurance policy you have.

It is important to review your policy and its terms carefully to understand what happens if you outlive your life insurance policy.

Term life insurance 

Term life insurance provides you with coverage for a specific period. For example, 25 years.  If you outlive the policy term, the insurance company is no longer obligated to pay a death benefit when you pass away.

Some term life insurance policies offer renewal options. Premium rates are likely to increase upon renewal.

Some term life insurance policies may offer the opportunity for you to convert you term life insurance to a whole of life policy.

Whole of life insurance 

Whole of life insurance offers lifelong coverage. This means that your loved ones will receive the death benefit regardless of when you pass away.