What Happens When Your Term Life Insurance Expires? 
If you have a term life insurance policy and the guarantee period on it is expiring , you have a several options : 1 -RRB- you can continue to pay premiums as the policy will be annually renewable , however , the premiums will start to go up each year -LRB- based on age -RRB- by a substantial margin . 2 -RRB- If the conversion period is still available , you can convert all , or a portion , of the face amount to a permanent policy with new medical underwriting . 3 -RRB- you can stop paying premiums and let the policy lapse , thus ending your coverage . 4 -RRB- you can apply for a new policy -LRB- can be with the same carrier or a new carrier -RRB- to secure a new term or permanent insurance policy . Please feel free to contact me for help . Thanks very much . 