Most term life insurance policies have an expiration date.
The average policy expires when the insured person reaches age 95. There are some policies that do not have an expiration date, but these are typically more expensive than those with an expiration date.
What is the best age to buy life insurance?
The younger you are when you purchase a life insurance policy, the lower your premium will be. That’s because younger people are generally healthier and therefore pose less of a risk to insure.
The vast majority of term life insurance policies have an expiration date of age 95. Some insurers offer policies with guaranteed level premiums for a longer period, such as to age 100 or age 120. However, once a policyholder reaches the end of the level premium period, the premium will increase annually.
