When Does Whole Life Insurance Expire? 
Whole life insurance expires when the insured dies because it 's a type of permanent life insurance policy . It can terminate earlier though if the policyowner does not pay the premiums on the policy -LRB- and there is n't enough cash value built-up inside the policy to sustain it -RRB- . If the policy fully endows -LRB- the cash value equals the face amount of the policy - generally the insured has reached age 100 when this happens -RRB- , the insurance company will terminate the coverage and give you a check equal to the face amount of the coverage . Please note , an endowment is subject to income tax on the amount that that is greater than the cost basis of the policy even though the death benefit would be tax-free . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much 