What Happens At The End Of Term Life Insurance? 
At the end of the initial rate guarantee period , most term life policies do not actually end . There is a large rate increase , however , and most people cancel their policies by not paying the renewal premium . Most term life policies can still be `` converted '' to universal life or whole life , allowing the insurance to continue . Rates are higher , but these conversion policies are usually a better alternative than paying ever-increasing term life rates . 