When Does Life Insurance End? 
Term Life Insurance ends when you quit paying on it . If you forget a payment , if your address or bank account changes and premiums go unpaid , or if you purposefully stop paying on a Term policy , the insurance company will give you one month to make that payment up . After the one month grace period is over , you must prove your health qiualifies to have the policy reinstated . If the level part of a Term policy is over -LRB- e.g. you are entering year 11 of a 10 year Term policy -RRB- , the policy will either automatically renew at an extremely high price , or the company will send you a letter telling you the new higher price and you must choose if you want it to renew at that price . From then on , the premium can go up annually . Most people do quit paying their Term Life Insurance and let it end at that point . Whole or Universal Life can be `` paid up '' for life , in which case all the premiums have been made and the policy will not end -LRB- as long as it was properly set up , there are no unpaid loans , etc -RRB- . Otherwise , permanent insurance will end when the payer quits paying premiums and there is not enough cash value to pay them . ` 