Does Life Insurance Expire? 
It depends on the type . If you have term insurance , then yes . If you have permanent insurance , then no . Term insurance keeps the premiums fixed and guaranteed for a specific number of years -LRB- e.g. 10 , 15 , 20 , 25 , or 30 years -RRB- . After the term period has expired , the premiums change to annual renewable term insurance and increase each year -LRB- based on age -RRB- . You can elect to continue the existing term insurance policy up until age 95 -LRB- with most policies -RRB- , however , the price to keep that policy in force becomes astronomical and you would never pay it past the first couple of years . Most people replace a term insurance policy with a new term or permanent policy . Permanent insurance is designed to cover you for the rest of your life . The only way a permanent insurance can expire early is if it 's `` dialed down '' - meaning the death benefit is designed to only go to a specific age/policy year -LRB- e.g. dialed down to age 90 -RRB- . Dialing down a policy can be useful to reduce your premiums , but still provide good coverage longetivity . I hope the input helps . Please feel free to contact me for help and if you have any other questions . Thanks very much . 