A Renewable Term Policy is a Clause in a term life insurance policy that allows you to extend your life insurance coverage beyond the duration of the original term, even if your health has declined, usually on an annual basis, or for up to a ten-year term, and without a medical examination required to qualify for the renewal policy.
You won’t have to re-qualify for a new term life policy, but your extended renewable term life insurance coverage will increase your current policy rates. That means, if you want to renew coverage, it will cost you more – you’ll be charged a higher premium based on your age at the time of renewal.
Learn more about term life insurance with a renewability option.
You won’t have to re-qualify for a new term life policy, but your extended renewable term life insurance coverage will increase your current policy rates. That means, if you want to renew coverage, it will cost you more – you’ll be charged a higher premium based on your age at the time of renewal.
Learn more about term life insurance with a renewability option.
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