Is Term Life Insurance Renewable? 
Many term life insurance policies are renewable to age 80 or 90 . Unless you have some type of rider that guarantees renewability at reasonable rates , your premium during the renewal period will jump sky high . And of course , if you are still alive when the renewable period ends , you may be unable to find a new policy , especially if you have developed a serious health condition . Rather than allow your term policy to enter the renewable period , it is usually a better option to convert part or all of your term insurance to permanent insurance while you can -LRB- if you indeed want your life insurance to continue -RRB- . Not all policies are convertible , and if they are , they will have strict guidelines as to how long you have to convert them to permanent insurance . So check on these features long before your term will end . In essence , converting will allow you to keep the same health rating you had when you applied for your term policy , regardless of your health at the time of conversion . The rates will be higher because you are older , and because you will be paying premiums for permanent insurance . However , they may not be as high as the renewable rates would have been , and your rates after converting often are locked in for your lifetime . 