Which policy expires at the end of the policy period?

• A. Term
• B. Whole Life
• C. Endowment
• D. Renewable

Answer: (A)

Term life insurance is designed to provide coverage for a specific number of years and has no cash value. Because there is no savings component, the contract ends automatically at the end of that defined period unless you renew or convert it. This makes it expire at the end of the policy period, which is the hallmark of term coverage. Whole life, by contrast, is lifetime coverage with a cash value and does not expire at a term endpoint. An endowment policy matures and pays out at the end date or on death, so it ends then rather than simply expiring. A Renewable policy can be extended beyond the original period through renewal, so it doesn’t expire solely at the end of a single policy period.