Certain term life insurance carriers will allow you to add what’s called a rider to your term policy that will convert it to a permanent life insurance policy at the end of the term. Usually the cost to you is pretty significant but it is an option to have if you realize you need to have a permanent death benefit (see below)—and you anticipate that the cost to put it in place at a later point (like after the term policy has expired) will be excessively high (because you’ll be older and less healthy then) or you worry that at that point you will be uninsurable.
