What Happens If You Outlive Your Term Life Insurance?

What Happens If You Outlive Your Term Life Insurance?
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Anne Johnson
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Americans are living longer. According to the U.S. Census Bureau, the average life expectancy is 79.9. That’s the average, but many people live a lot longer. At this later age, many people are finding they have outlived their term life insurance policy.
Sometimes, outliving a term life insurance policy is intentional. The reason for it is gone. But many who have spouses or dependents may need additional life insurance. What do they do?

Why Extending Term Life Insurance Could Be Important

The main reason for a term life insurance policy is to support your dependents should you die prematurely. Many will buy life insurance in their thirties or forties to protect their spouse and dependents. Some buy it to pay the mortgage if they die early.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.
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