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Term life insurance pays a death benefit to beneficiaries if you pass away while the policy is still active. However, unlike permanent life insurance, term life insurance matures after a certain amount of time, meaning your coverage ends. When these policies expire, your loved ones will not have access to the added financial protection they may need. Fortunately, there are many ways to maintain or replace your policy, and Aflac offers life insurance policies with various coverage levels to choose from.
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A term life insurance plan can offer policyholders coverage for a set period, called the term length. Many insurers usually offer term lengths of 10 to 30 years. If you pass away while your plan is active, your loved ones will receive the death benefit. Premiums are reasonable since these policies are simple, lack cash value, and do not last for your lifetime.1 As a result, a term life insurance policy from Aflac can help provide you and your loved ones with substantial financial protection at a rate that fits your budget.
A term life insurance policy matures when it reaches its expiration date. At that time, the policy’s coverage ends, and you stop paying premiums. Therefore, if you pass away after the policy ends, your beneficiaries will not be eligible to receive a death benefit.2
Some policyholders may only need term life insurance for a certain timeframe, such as to help protect a child until they reach adulthood and start their career. In this case, it may make sense to let the policy expire without getting new coverage. However, some may find that they’d still like life insurance coverage, so they may get a new policy.
Once your policy ends, you can’t get back the premiums you paid unless you have a return of premium rider. This optional add-on lets you receive a refund of premiums if you outlive your policy term.3 However, a return of premium rider can increase your premiums, so you must budget accordingly when adding one.
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedHere are some options you have to remain covered after your term life insurance policy ends:4
Term life insurance often lets you convert your policy to a permanent life plan for higher premiums.1 This policy type lasts for your entire life if you remain current on your premiums. It also comes with a cash value growth component that can help serve as a wealth-building vehicle. As you accumulate cash value, you can borrow against it or withdraw from it. Aflac offers whole life insurance for individuals and families that can provide lifelong coverage.
The lifelong coverage and cash value make permanent life insurance premiums more expensive than term life insurance.1 However, these benefits can be worth the higher cost for those who want added peace of mind and wealth-building opportunities.
Many insurers attach renewal riders to term life insurance. This lets you extend your coverage without new underwriting or medical exams. Remember that premiums will be higher since you’ll be older when renewing your policy. Furthermore, you may have to stick with the same term length the original policy had.
You may also decide to get permanent life insurance after your term life policy has expired. While some policies may require a medical exam to get coverage, others allow you to skip the exam, such as final expense insurance from Aflac.
You may also decide to get permanent life insurance after your term life policy has expired. While some policies may require a medical exam to get coverage, others allow you to skip the exam, such as final expense insurance from Aflac.
If your term life insurance plan is expiring soon, evaluate your options so that you can continue coverage seamlessly. Aflac offers term life, whole life, and final expense life insurance that can help replace your old coverage if you need a new policy. To learn more about our life insurance policies, start chatting with an agent and get a quote today.
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Permanent life insurance ensures the financial protection of your loved ones. Find out what permanent life insurance is and the different types of policies available.
Wondering if you can borrow money against your life insurance policy? Learn how life insurance loans work, how to take one out, and the pros and cons.
Permanent life insurance ensures the financial protection of your loved ones. Find out what permanent life insurance is and the different types of policies available.
Wondering if you can borrow money against your life insurance policy? Learn how life insurance loans work, how to take one out, and the pros and cons.
1 Forbes – How Much Is Life Insurance? (October 2024). Updated July 24, 2024. https://www.forbes.com/advisor/life-insurance/how-much-is-life-insurance/. Accessed September 18, 2025.
2 BankRate – What happens if you outlive your term life insurance? Updated April 11, 2025. https://www.bankrate.com/insurance/life-insurance/outlive-term-life-insurance/. Accessed September 18, 2025.
3 BankRate – Return of premium life insurance. Updated December 16, 2024. https://www.bankrate.com/insurance/life-insurance/return-of-premium-life-insurance/#pros-and-cons-of-return-of-premium-life-insurance. Accessed September 18, 2025.
4 MarketWatch Guides – What Happens When Term Life Insurance Expires? Updated March 26, 2025. https://www.marketwatch.com/guides/life-insurance/best-term-life-insurance/term-life-insurance-expires/. Accessed September 18, 2025.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Aflac life plans – A68000 series: Term Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000 series: In Arkansas, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Arkansas, Idaho, Oklahoma, Oregon & Texas, Policy ICC18Q60200M. In Delaware, Policy Q60200M. Not available in Virginia.
Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (NAIC 92908).
In AR, DE, ID, OK and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Aflac Final Expense policies are not available in New York.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
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Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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