With most term life insurance policies, your premium is fixed for the entire term of the policy (e.g., 10, 20, or 30 years). This means you'll pay the same amount each year during the term. However, if you choose to renew the policy after the initial term ends, the premium typically increases significantly because you're older and may have a higher risk profile.

• (e.g., Whole Life, Universal Life): For whole life insurance, premiums are usually fixed for the duration of the policy. In some cases, policies with flexible premiums, like universal life insurance, allow adjustments based on the policy's cash value and performance, but these changes are often under your control.

• Policy Renewal: If you renew a term policy after its initial term, premiums will usually increase based on your age and health.

• Riders or Policy Adjustments: Adding or modifying riders (additional benefits) may change your premium.

• Health Changes: For some types of policies, if your health significantly improves, you might be eligible for a review and potential premium reduction. Conversely, if you're on a renewable term and your health declines, this could impact your renewal costs.

If you're unsure about your policy type or have questions about future premium changes, it's always a good idea to review your policy document or consult with your advisor to ensure your coverage aligns with your long-term financial goals.