End of Term: No Cash Value Returned
Term life insurance provides pure death protection for a set period and does not build cash value; when the term expires, you receive no money unless the policy is renewed or converted.
More from this site
Keep reading the latest coverage
Renewal and Conversion Options
Many policies allow you to renew for another term, often at a higher premium, or to convert to a permanent policy that does have cash value. These choices let you maintain coverage without a payout.
Potential Refunds or Premium Returns
Some insurers offer a return‑of‑premium (ROP) rider, which refunds all premiums paid if you outlive the term. This feature costs more and must be selected at purchase; without it, no refunds are issued.
What to Do When Coverage Ends
Review your policy documents for renewal or conversion clauses, compare costs of new coverage, and consider whether you still need life insurance based on your financial situation.