Term limits force new thinking, and re-evaluation of what the special interests are selling. They reduce the likelihood of political cronyism by limiting how long one can expect to get favors from a particular candidate. They would ensure that the people coming into any given office don't think of it as a life long future, but instead a relatively short term stop in their path of life(this has both good and bad sub points).
Interestingly the Roman Republic article from Wiki that I mentioned earlier also said that about this time in their development they enacted a form of what we refer to as term limits.
Quote:
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n 342 BC, two significant laws were passed. One of these two laws made it illegal to hold more than one office at any given point in time. The other law required an interval of ten years to pass before any magistrate could seek reelection to any office.
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342BC would be 167 years after the marked beginning, or 55 years earlier in their society's development. I just find it historically interesting, I am not using it as justification or proof