What happens at the end of a non-renewable term insurance policy?

At the end of a non-renewable term insurance policy, the policy expires and cannot be renewed. Non-renewable term policies are designed for a specific period, and once that term concludes, the contract terminates without any options for extension or renewal. This means that the coverage provided during the term is no longer valid, and the policyholder does not have the opportunity to continue the insurance under the same terms or premiums.

Non-renewable term insurance is typically utilized when there is a known time frame for needing coverage, such as during a particular life stage or until a specific financial obligation is met. After the term ends, the policyholder must seek a new insurance policy if they still desire coverage, which often involves reapplying and may come with different underwriting considerations and premiums based on the individual’s current health status and age.