Term life insurance is designed to protect your loved ones while you still have a mortgage, young kids, debt, or other liabilities. At the end of your term period, your life insurance policy will expire and your coverage will end.

If you still need coverage at the end of your term, you can renew your policy annually for up to five additional years. The premium prices during the renewal period will be higher than your premium during the term.

Ladder doesn’t offer a refund (or a return of premium) if you outlive your policy. Often those types of options can drive up premium prices and we strive to keep our policies as affordable as possible.

To learn more about canceling your policy within your term, go to How do I cancel my policy?

To learn more about the process if you pass away during your term, go to How do I make a claim?