What happens when my term policy expires?

When a term life insurance policy from State Farm expires, the coverage provided by the policy ends. At that point, the policyholder will no longer have death benefit protection unless they take specific actions beforehand. Generally, term policies are designed to cover individuals for a predetermined time frame, such as ten, twenty, or thirty years. As the expiration date approaches, policyholders usually have options. Some policies may allow a renewal or conversion to a permanent life insurance policy. However, this typically involves a reevaluation of health status and may result in a change in premium rates based on the insured's age at the time of renewal or conversion. Policyholders should carefully review the terms of their specific policy to understand what their options may be. Additionally, they might consider their financial needs and future goals when deciding the best course of action following the expiration of their term policy. For more detailed information regarding specific options, it is advisable to refer to the current State Farm website for additional resources.