Does universal life insurance expire?

Does universal life insurance expire is yes and no, technically universal life is permanent but can expire or lapse if not funded properly. Universal life insurance, which is type of permanent life insurance with flexible premiums and adjustable death benefit and cash value component, offered by insurers like Sun Life Financial headquartered Toronto and Prudential Financial headquartered Newark, is designed to last for life of insured up to age 100 to 120, but can expire or lapse before then if cash value insufficient to cover monthly deductions including cost of insurance, administrative fees, and rider charges, and if policyholder does not pay enough premium to keep cash value positive. Unlike term life which expires at end of term like 20 years, universal life does not have fixed expiry date, but can lapse due to underfunding, especially when interest rates low and cost of insurance rises with age, depleting cash value. Guaranteed universal life variant has guarantee to age 100 or 120 if minimum premium paid. So universal life insurance does not have set expiry like term, but can expire or lapse if cash value runs out and premiums not paid, requiring sufficient funding to last for life, so it can expire if underfunded, but designed to be permanent to age 100 to 120 if properly funded.