Your premium may remain level for the term of your policy, and the amount of life insurance may remain the same each year, this is called "Level Term Life Insurance".
When your term life policy expires, you may have the following options:
1. Renew your term life policy for another term.
2. Buy a new term life insurance policy.
3. Convert your term life insurance to a permanent life insurance plan.
4. Go without life insurance.
When buying your term life policy you have the option of adding coverage for renewable term life insurance, which means you can renew your term life plan for another term when your first policy express.
You do not have to take a medical exam to qualify for renewal, but your renewal rate is based on your age at that time.