What Happens When My Term Life Insurance Expires? 
You get clobbered with a rate increase . I literally have seen increases of 10 times the original premium . Pretty scary , isnt it ? This means you should reevaluate your coverage now . If there is any possibility you will need it past the guarantee on the policy , get yourself a new one . Or , convert the current term into a permanent product with lifetime guarantees . Which way should you go ? Get yourself prequalified for a new policy from another carrier . Also get conversion quotes from your current carrier . Compare the two . May the best plan win ! 