What happens to my life insurance if I don’t die?

So you pay in for years, then guess what – you’re still alive. Congratulations! Here’s a few burning questions you may have about your next steps…

Do I get my money back if I don't die by the end of the policy term?

All types of insurance have this annoying habit. If you don’t use it, you still pay for it. It’s how insurance companies make their money. And life insurance is no different. Don’t expect a refund if you’re still kicking about when your life insurance expires. You won’t even get a farewell card.

So if you outlive the end of your term, it’s easy to look back on those last 25 years of premiums as a big fat waste. You shouldn’t, and we’ve even written a piece on this ‘is Life Insurance a good investment’. Just in case you were interested.

What are my options after my life insurance expires?

Getting close to your "life insurance expiration date can induce stress. That’s right — that same life insurance policy that gives you peace of mind then dons a black cape and sinister moustache and cackles in your face like a banshee on crack. One day you’re leaning on the comfort of life insurance, and the next it’s got its bags packed and half a foot out the front door. You could get another quote, for another policy but it’s likely to be very expensive, or very complicated and just imagine the medical questionnaire, if they’ll even let you take out another policy with them.

Well it is, if you’ve a traditional life insurance policy anyway. There is another way.

Life insurance redesigned.

Oh, we see you, fickle life insurance. That’s why we started DeadHappy, to do life insurance the way people want it. Every year we let you reset your 10 year term back to the start, subject to a few health and lifestyle questions. And you can do this every year until you’re 60, giving you continuous coverage until the ripe age of 70. What’s more, every year we’ll calculate your premiums based on your life today, so you’ll never pay for coverage you don’t yet need.

Get life insurance