Show More

Ask an Expert

What happens to my life insurance policy if it expires before I die?

Unless you have whole-of-life cover, your life insurance policy has an end date, and depending on when that is, you may find you outlive your policy.

At that time, like any other form of insurance, your cover will cease. Should you then continue to want cover, be aware your options may be drastically limited.

Some insurers may allow you to apply for an extension to your policy. However, in this instance your premium will be based on your current circumstances – not those of when you applied, so you could find what you’re required to pay becomes prohibitively expensive.

Alternatively, you could take out a new insurance policy with another company, though again you’ll need to be assessed first and, on the off chance you are approved, premiums will be dear.

While your policy may have expired, you should carefully consider your circumstances – do you really need to continue having cover? Most policies are taken out in people’s youth in order cover mortgages or child tuition fees and to ensure loved ones are provided for should the worst happen; it’s therefore possible that you don’t have the same financial demands and dependencies as you once did. In that case, it may be neither economical nor necessary to take out a new policy.

Essentially, it’s important to recognise that even if you’ve been paying into an insurance policy for forty years, that all expires come the policy end date.

Related guides

Is Vaping Classed as Smoking for Life Insurance?

Vaping is seen as less harmful than cigarettes and is often used by smokers to help them quit their habit. However, that doesn’t mean that vaping is ignored completely by life insurance providers. In fact, in most cases, vaping will likely impact your life insurance policy in a similar way to smoking.In this blog, we’ll cover everything you need to know about vaping and taking out life insurance. We’ll explore the ways that life insurance can be affected by vaping, cover what you need to tell your insurer, and answer some frequently asked questions.

Pension Term Assurance

Until the end of 2006, pension term assurance was available as a form of life insurance that could be bought as part of a pension plan complete with the associated tax breaks.While this kind of policy is no longer available to new customers, those with such policies active are still entitled to continue them, and to enjoy the tax advantages they come with.

Moving Abroad? You Might Need a New Life Insurance Policy

Many UK residents dream of seeking out warmer climes, especially during retirement. When compared with dreary British weather, the prospect of moving abroad to sunny shores can sound very appealing indeed.But the dream of retiring abroad isn't the only thing urging Brits to fulfil their wanderlust. Often, UK residents can find many opportunities in foreign countries, particularly in certain job sectors. These factors have led to over five million Brits permanently living overseas.However, if you have life insurance or are considering getting life insurance, moving abroad can complicate things. Keep reading to find out how your existing life insurance policy and premium could be affected and which life insurance policies you should look into, including expat life insurance.