Is there life insurance available that provides one year of coverage?
Yes, it's called annual renewable term life insurance, and it provides life insurance for a period of one year.
If you wish, you may renew your coverage for an additional year, when your one year term expires.
However, your premium will increase at renewal.
As you renew your policy each year, the premium will increase, until it is no longer affordable.
Which is why many people choose to purchase a 5 or 10 year level term life insurance policy, since the premium is locked-in, and does not increase each year.
Learn more about term insurance for 1 year of coverage.
Yes, it's called annual renewable term life insurance, and it provides life insurance for a period of one year.
If you wish, you may renew your coverage for an additional year, when your one year term expires.
However, your premium will increase at renewal.
As you renew your policy each year, the premium will increase, until it is no longer affordable.
Which is why many people choose to purchase a 5 or 10 year level term life insurance policy, since the premium is locked-in, and does not increase each year.
Learn more about term insurance for 1 year of coverage.
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