Most term life policies can be renewed, and some can be converted into a permanent life insurance policy.
So, while the term policy expires, you don’t have to give up the life insurance coverage.
However, your have aged and your health may have changed since you first took out the original term life insurance policy, so you can’t be guaranteed the same rate for coverage if you renew or convert your term life insurance policy.
You may have to undergo a medical examination to find out if you qualify for a renewal life insurance policy.