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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 expires after a certain amount of time, meaning your coverage ends. When these policies expire, the financial protection they provide may end unless coverage is continued. 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 typically reasonable since these policies have a fixed rate for a specific period of time and has no cash value.1 As a result, a term life insurance policy from Aflac can help provide you and your loved ones with financial protection at a rate that fits your budget.
A term life insurance policy expires when it reaches the end of its term. At that time, the policy’s coverage ends, and you stop paying premiums. Therefore, if you pass away after your coverage 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, others may find that they still need life insurance coverage and choose to get a new policy.
Once your policy ends, you generally don't get reimbursed for the premiums you paid unless you have a return-of-premium (ROP) 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. This policy type lasts for your entire life if you remain current on your premiums. It also includes a cash value growth component that may contribute to long-term financial goals. As you accumulate cash value, you can borrow against it or surrender the policy for cash. Aflac offers whole life insurance for individuals and families that can provide lifelong coverage.
Whole life insurance costs more than term life insurance because it typically offers lifelong coverage and has a cash value component.1 However, these benefits can be worth the higher cost for those who want added peace of mind and the opportunity to accumulate cash value over time.
Many term life policies have a guaranteed renewability provision that allows you to extend your coverage after the end of your original term as long as you continue to pay the premiums. Even though your premiums are likely to increase, depending on your age at the time of renewal, you may not have to submit a new medical exam.
If you are reaching the end of your current term policy, you have the option to apply for a new term life insurance policy. This may allow you more flexibility in choosing the policy term, but you’ll likely have to take a new medical exam, especially if the policy exceeds a certain death benefit amount.
If your term life insurance plan is expiring soon, evaluate your options so that you can make an informed decision about future coverage needs. Aflac offers term life, whole life, and final expense life insurance that may be options if you need a new policy. To learn more about our life insurance policies, speak 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 Does Life Insurance Cost? Published June 22, 2026. https://www.forbes.com/advisor/life-insurance/how-much-is-life-insurance/. Accessed September 24, 2026.
2 NerdWallet – Term Life vs. Whole Life Insurance: Key Differences and How To Choose. Updated February 20, 2026. https://www.nerdwallet.com/insurance/life/learn/term-vs-whole-life-insurance. Accessed September 24, 2026.
3 NerdWallet – What Is Return-of-Premium Life Insurance and How Does It Work? Updated July 31, 2026. https://www.nerdwallet.com/insurance/life/learn/return-of-premium. Published September 24, 2026.
4 Investopedia – Outliving Term Life Insurance: Options for Continued Coverage. Updated January 8, 2026. https://www.investopedia.com/what-happens-if-you-outlive-your-term-life-insurance-policy-5076607. Accessed September 24, 2026.
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/producer.
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: 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: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000/Term Life: In Arkansas, Oklahoma, Pennsylvania, Texas & Virginia, Policies ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware, Idaho, New York and Oregon. Whole Life: In Arkansas, Oklahoma, Pennsylvania, Texas & Virginia, Policies: ICC18B60C10, ICC18B60100. Not available in Delaware, Idaho, New York and Oregon. Q60000 series/Term Life: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania & Texas, Policy ICC18Q60200M. In Delaware, Policy Q60200M. In New York, Policy: NYQ60200M. Not available in Virginia. Whole Life: In Arkansas, Delaware & Oregon Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. In New York, Policy: NYQ60100M. 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. Not available in NY.
Coverage/plan levels may not be available in all states, including but not limited to NM or VT. Benefits/premium rates may vary based on plan selected. 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.
Aflac WWHQ | Tier One | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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