Yes, most term life insurance policies offer the insured the Option of Renewability.

A Renewable Term Insurance Policy means you may renew your coverage for an additional coverage term if you advise the insurance company by a specific date stated in your life insurance contract.

With term life you may select coverage lasting for a period of 10, 15, 20, 25 or 30 years, usually. Some life insurers do offer 35 or 40-year level term life plans.

However, when selecting to renew your coverage, your te...