Term specific life insurance is also known as term or temporary life insurance.
Term life offers coverage for a specific number of years, usually 10, 15, 20, 25 or 30 years.
Term life policies may offer you the option of renewability.
Renewable term life insurance means you may choose to renew your term policy for another policy term (usually 10 years), when your current term life plan ends.
If you choose to renew your term life coverage, your new insurance rate will be based on your age at the time of renewal; however, you will not have to take a medical exam to qualify for the renewal policy.
This option may be a good idea for people who have developed health issues during their current term life policy, and may find it difficult to get insured after their current coverage expires.
Learn more about extending time specific life insurance.