Yes
President and Senior Agent, Outlook Life, Most of the U.S. No, life insurance does not expire at a certain age. Each life insurance policy has its own parameters, whether the policy is Term, Whole or Universal Life. Be sure you understand those when you take out your policy, or you may find yourself uninsured just when you need it most. Permanent life insurance can expire at a set age, by design, like life expectancy age 85 or at the maturity date, which can vary, i.e. age 100 to age 121. Term life insurance provides coverage for a certain period of time.. If you have wondered if term life insurance expires, the short answer is yes.. Term life insurance does indeed expire or come to an end. That is why it is called term, because it lasts for a limited time with a fixed end. Some term life insurance contracts will only protect you to a certain age and still others for a limited number of years, possibly only one year. However, some term policies give you the option of renewing when the term is up. Term life insurance has a time certain period according to the contract provision, i.e. 5, 10, 15, 20 or 30 years. Permanent life insurance can expire at a set age, by design, like life expectancy age 85 or at the maturity date, which can vary, i.e. age 100 to age 121. Other than that, technically the insurance coverage 'expires' when the policy holder dies or stops paying the premiums. Most term policies automatically renew without medical evidence when the 5, 10, 15, etc year term expires, so it's more of a renewal than an expiration. · just now. Report Abuse. Term life insurance does, in fact, have an expiration date. Most term life policies are sold on a 10, 20, 25, or 30 year term. Naturally, the shorter terms are cheaper than the 30 year as the 30 year gives someone 30 full years of converage and peace of mind. For traditional whole life insurance, the amount and duration of premium payments are the same for as long as the insured is alive, but some whole life policies allow you to pay premiums in a single installment, or for a shorter period such as 20 years or until age 65. Whole life insurance is designed to provide coverage on the insured for the insured’s entire life as long as premiums are paid and the policy has not been surrendered. On the other hand, term life insurance provides coverage only for a fixed period that is stated in the policy. As you may know by now, term life insurance has an ‘expiration date’ in a sense. It lasts for a specific length of time, or term period. The term period is set when you purchase the policy and typically lasts for 10, 15, 20, 25 or 30 years.  If you foresee a certain period when life insurance is needed, for example, until the mortgage is paid or until the children complete college, consider that your financial circumstances may change before that time and look for a renewable policy -- that is, one that will not expire until say, age 80. Some term life insurance contracts will only protect you to a certain age and still others for a limited number of years, possibly only one year. However, some term policies give you the option of renewing when the term is up.
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does whole life insurance expire at a certain age