It’s when your life insurance policy expires and you choose to renew your coverage for another term.
This applies to term life (temporary) insurance that provides coverage for a specified number of years.
When you coverage is about to expire, you may choose to renew your term life plan for another term, usually lasting up to 10 years.
This allows you to extend your life insurance protection in case you find your needs have changed and you need to continue coverage.
Your premium for renewal of your term policy will be higher than you pay now for your expiring term life coverage because it will be based on your age at time of your renewal.
Learn more about life insurance renewal of coverage.