What Happens When Term Life Insurance Expires? Renewal Costs & Conversion Options

Most people do not realize their term insurance has an expiration date until it is too late. In this episode of Building Wealth with Marco Esquivel, we’re talking about what happens when a term life insurance policy gets close to expiration and why it is important to ask questions before that date arrives. Term insurance can serve a real purpose, but you need to understand what you are purchasing, how long the coverage lasts, what renewal may look like, and whether there may be options to convert the policy to permanent insurance. The key is not just having coverage today. The key is knowing what comes next. Before your term policy expires, ask questions like: 👉When does my term policy end? 👉What happens when the term expires? 👉Will it become more expensive to renew? 👉Is my age or health going to affect my premiums? 👉Do I have the option to convert to permanent insurance? 👉Does this still fit my long term financial plan? Whether you are reviewing your finances, planning for retirement, protecting your family, or building wealth, understanding your insurance strategy matters. ➡️ Subscribe for more real-world financial strategies 📅 Book a free consultation: calendly.com/esquivelrealtycb/initial-client-appointment Chapters: 0:00 Term Insurance Has an Expiration Date 0:06 Why Insurance Comes Up in Financial Conversations 0:32 Do You Have Term Insurance? 0:42 How Long Is Your Term Policy? 0:50 What Happens After the Term Ends? 1:04 Renewing at an Older Age 1:25 Why Renewal Can Become More Expensive 1:36 Check Your Policy Expiration Date 1:42 Questions to Ask Your Advisor 2:19 Converting to Permanent Insurance 2:43 What Happens When Term Insurance Expires 2:49 Why Premiums Can Increase 3:07 Understand What You Are Purchasing 3:14 Final Reminder: Ask Questions ---- Marco Esquivel CA DRE#02048864 | CA CDI#4234197 Disclaimer: This video is for educational purposes only. Marco Esquivel is a licensed CA Realtor (DRE#02048864) and Financial Services Professional (CDI#4234197). Please consult a licensed advisor before making any financial or real estate decisions.