It really depends on the type of life insurance policy you have. On term life policies they have a guaranteed level premium for a certain period. Most common are 10-20-30 years. The policy does not necessarily expire on the date but the premiums will increase about ten fold. On cash value plans such as whole life or universal life, they really don’t expire but rather endow. This means the cash value now exceeds the face amount. When purchasing these plans a good agent will set up the “target” premium to endow at your chosen age. Some companies will allow you to endow at age 150. The short answer is you decide the “expiration” date.

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