Without telomeres and telomerase, our chromosomes would be shorter after every round of replication. This would eventually lead to loss of genes, meaning loss of proteins, and eventually our body wouldn't be able to function. Loss of telomeric ends is a theory of why we age and why some people age faster than others. I haven't looked into it personally but that's what I've heard.
Have you heard anything about telomeres and aging? If there is in fact a correlation and we are able to fix degeneration of telomeres, eliminating aging, do you think we should?