With term life insurance renewal, you do not have to provide proof of good health. This is why an insurance company charges you a higher premium at renewal. Since the insurance company has no way of knowing your current health condition, it assumes that with the increase in your age you may have developed certain health conditions, your health may have deteriorated, or you may have even developed a terminal illness. This will increase the chance of a claim, posing a higher risk for the insurance company that they may pay out a death benefit.