When the term of your term life policy ends, the cost to renew the term life insurance coverage for another term will increase quite a bit.
Another advantage of a Term Life Policy is that it usually does ensure that you are insurable the rest of your life.
If you get a term policy that can be converted to a permanent life insurance policy for a number of years after the original term life insurance policy is issued, you can change it to a Whole Life or Universal Life insurance plan with no health questions asked and no medical exam required - which means you do not have to prove insurability to convert your term life coverage to lifetime life insurance.
The price will be high for your new permanent life insurance , because it is lifetime life insurance and will be issued at the older age you are when you do the conversion from your term life policy. However, this is still a major advantage, if you would happen to be diagnosed with a serious illness and are unable to get a new life insurance policy otherwise.
Learn more about the major advantage of term life insurance.