What Happens When Term Life Insurance Is Up? 
This depends on what specifically you are referring to when you say `` is up . '' When the level term period is over , the premium will generally increase . If the policy owner wishes to pay the premiums and keep the policy , he or she has that option . Term policies will reach a point where they can no longer be continued . In this circumstance , the policy terminates and coverage is no longer available from the policy . 