At the end of a term Life Insurance policy, the coverage typically expires. Policyholders have several options at this point, including renewing the policy, converting it to a permanent life insurance policy, or letting it lapse. If the policyholder chooses to renew the policy, they may have the option to renew it for another term, but the premiums are likely to increase due to the age of the insured. Converting the policy to a permanent life insurance policy allows the policyholder to maintain coverage for the rest of their life, but it may come with higher premiums. If the policyholder does not take any action, the policy will simply lapse, and the coverage will end. It's important for policyholders to carefully consider their options and make an informed decision based on their current financial situation and insurance needs.