What Happens When Your Term Life Insurance Ends? 
When your Term Life Insurance ends , the price of the Term coverage usually jumps way up in price . After this , the rate can go up every year , so most people choose to get a new policy . However , they must be medically able to get a new policy , and their rates will be based on their new age , usually causing the new policy to cost substantially more than the one whose term just ended . If health has declined since purchasing the original Term policy , it may be a good idea to convert the Term insurance to permanent . This must be done within a certain time frame . The new rates will be based on current age , and the product that you can convert to may not be the product that you would prefer . But converting does not require evidence of good health , so is a good way to get coverage when other doors are closed . 