1. Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Today the answer is yes and no, depending on the type of policy purchased. With term insurance there definately is an end without regard to the insured's situation. If the insured is still alive at the term policy's end, coverage ceases and the insured is left to fend for themselves.

    With whole life, depending on the type of policy, the policy will end (endow) at an age where the cash value becomes greater than the death benefit. In that situation, the cash value would go to the insured, ending the policy.

    With a newer product, Guaranteed Universal Life, some plans offer coverage as long as the insured pays the premium. These GUL plans create a level premium that guarantees payment as long as the premium is paid.
    Answered on April 9, 2013
  2. J Scott BurkePRO
    President, Newbury Inc., Evansville, Indiana
    Yes. All life insurance will end upon your death if the policy is still in force when you die.

    Some life insurance is not really designed to last until you die.

    Term life insurance is always intended to be temporary insurance and only last 20 years or 30 years or for whatever term you buy it for. It actually doesn't end because you COULD renew it but no one ever does because the policy premium would be very very expensive. It's usually cheaper to either start over with a new policy or walk away from it.
    Answered on April 9, 2013
  3. Zachary Wright
    Owner, Wright Insurance Agency, Great Pittsburgh Area
    It depends on the type of life insurance. Term is pure coverage meaning you are covered for the length of time the term is meant to cover. If you get a 10 year term, you are covered up to the 10 years. Most terms are convertible to a permanent policy, but most have a conversion period so be sure to read the life contract. Other forms of life such as whole and universal life are meant to cover the insured until death, but you have to make sure that you have paid enough in for the policy not to lapse. The outline of the plan should be in your life contract.
    Answered on April 9, 2013

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