Most life insurance companies offer an option to renew your life insurance policy at the end of the term. This means that the insurance company will continue to offer you insurance without requiring a health questionnaire or medical examination. Regardless of your health, they have to offer you insurance for another term. The issue with this is that the cost is very high. You will have to determine if it is worthwhile to pay this increase in cost. It may be wise to continue your policy if you are in very bad health and can no longer qualify for a new policy.