Does he/she lose the money? If he/she wants to continue to have life insurance after the term has ended, does he/she have to buy term life insurance again but for a shorter term?
If you have a regular term life insurance plan the coverage would expire after the 30 year period, if you were alive. If you added the option of renewability to your term life plan, you may be able to renew your coverage for another term. However, you would probably not get a renewal term of 30 years, but maybe 10 or 15 years.
Also, if the term life insurance coverage expires, you would not get any money back if you were alive, unless you purchase a return premium term life insurance policy, which charges higher rates than regular term life insurance.
Learn more about how term life insurance works.