Term insurance is in force as long as the owner pays the premium.
John paid liability insurance on his car for 4 years. In January he stopped making payments. In February he totaled the car. Despite the fact that John had paid premiums for 4 full years, the insurance company paid nothing for John’s wrecked car. He stopped paying the premiums so he had no insurance. His insurance was only in effect for the term or time covered by the paid premiums.