What term describes the period after which coverage under a term insurance policy ends?

The period after which coverage under a term insurance policy ends is referred to as the "termination period." This term specifically denotes the point in time when the coverage provided by the insurance policy ceases, which is characteristic of term policies that are designed for a specific duration.

Term insurance provides death benefits for a specified term, and once that term concludes, the policyholder no longer has coverage unless they have options to renew or convert to a permanent policy, which is not guaranteed. Understanding this aspect is crucial since it impacts financial planning for beneficiaries and the insured during the covered term.

The other options might seem plausible but do not encapsulate the insurance terminology correctly. For instance, while "expiration period" and "coverage lapse" hint at the end of coverage, they fail to convey the formal insurance context of the termination of the policy. "Term end" is not a standard term used in the industry to describe this process, making "termination period" the most accurate term to define this key phase of a term insurance policy.