What happens at the end of a term?

Think of term life insurance like a gym membership—but instead of lifting weights, you're lifting financial protection for your loved ones. You sign up for a set period (like 10, 20, or 30 years), and as long as you’re "paying your dues" (aka premiums), you're covered.

But what happens when the term ends? Well, your coverage doesn’t just poof disappear (though it might feel that way if you're not paying attention!).

Here are your options:

Many policies let you extend the coverage, but just like trying to renew that gym membership at 50, it’s going to cost more than when you were 30.

If your policy allows it, you can switch to a permanent plan without a medical exam—kind of like upgrading from a rental car to one you own for life.

If you no longer need the coverage, you can simply walk away with no obligations (though your family might miss the financial safety net).

Moral of the story? Before your term ends, check in with your advisor (like me!) to make sure you’re making the best move for your future. Because when it comes to life insurance, the last thing you want is to be caught "uninsured and unaware"!