A renewable term life insurance policy is temporary life insurance coverage that allows you the option to renew your policy, usually for a duration from 1-10 years.
If you choose to renew your life insurance, you will not have to prove insurability, which means, you won't have to take a medical exam to prove your are healthy enough to get insured.
Keep in mind, you will need to notify your insurance company by a certain date as to your wishes to renew your coverage. The time requirement for renewal request should be stated in the life insurance policy.
Your renewal policy will be based on your age at renewal, so your premiums for the new coverage will increase compared to the cost of your current term life insurance policy.
Here's how to learn more about renewable term life insurance policies.
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