If you miss a life insurance premium due date you will usually have a 31 day "grace period" to pay the premium due.
Your life insurance policy will remain "In force" during the grace period.
An individual term life insurance policy can be canceled by the insurance company only for non-payment of premium.
If you do not pay the overdue premium payment within the grace period your term life insurance policy will terminate (end).
The life insurance policy cannot be canceled due to a change in the status of your health.
If you purchase term life insurance through a group such as an employer-employee group your term life coverage may terminate when you are no longer an eligible member of that group; for example, when your employment ends. Be sure to read the termination provision of your group term life insurance certificate.
Of course, life insurance coverage and cancellation is subject to the terms and conditions of your life insurance policy. Cancellation provisions should be stated clearly in your policy.