Whats the point of paying my premium if my term life insurance is expiring next month?
the only point would be to have coverage in that last month. You could get hit by a car tomorrow…you never know. The other point would be if you are looking to convert the coverage to another term or to a whole life product after it expires if that is an option available to you. By converting it you don’t have to provide medical information or any other underwriting in most cases, which might be important if you have any health issues, etc. If you don’t plan on renewing/converting it and you feel pretty invinsible for the next month, then I suppose it’ll save you a couple bucks by not paying it.
Related Questions
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- Whats the point of paying my premium if my term life insurance is expiring next month?
