Life insurance is a policy that covers a specific period. If you outlive your policy
period, your coverage will expire. As a result, you will not be able to continue paying
your premiums to keep the life insurance policy in force. But what happens when
your life insurance policy expires? Here, we’ll answer these questions and more!
What To Do If You Outlive Your Live Insurance Policy?
If you outlive your policy, you can convert it into a permanent life insurance policy.
This will allow you to continue your coverage for as long as you live, and you can
even build cash value over time. You need to contact your provider for more info
about this option.
Can I Renew My Life Insurance?
You can renew your life insurance policy. Depending on the policy you currently
have, you may be able to renew it automatically or contact your insurance provider
to discuss your options.
When Does It Make Sense To Renew My Life Insurance Policy?
It makes sense to renew your life insurance policy when you need the coverage, can
afford the premiums and are in good health. Additionally, it may be time to consider
a new policy if your current coverage does not meet your needs. Finally, if you have
children or other dependents who rely on your income, it may be wise to renew
your policy.
Can I Use My Life Insurance While Still Alive?
Yes, you can use your life insurance while still alive. There are several ways to do
this. For example, you may access cash value from your policy through a loan or
withdrawal, or you may be able to use the death benefit to provide income for
yourself or your family in the event of a disability or illness. Additionally, some
policies offer living benefits to help cover medical expenses.
