What does a term life insurance policy provide at the end of its term if the insured is still alive?

A term life insurance policy is designed to provide coverage for a specified period, or term, typically ranging from 10 to 30 years. If the insured individual is still alive at the end of this term, the policy does not pay out any benefits or provide any further coverage. Essentially, the contract comes to an end, and no benefits are granted because the purpose of term life insurance is to offer a death benefit if the insured passes away during the policy term.

Unlike permanent life insurance policies, which accumulate cash value and may provide other options such as renewal or payout at the end of the term, term policies do not offer such benefits once the term has expired. Therefore, when the insured survives the duration of the policy, the coverage simply ceases, resulting in no life insurance benefit being paid.