When you buy a term life insurance policy why is it important to make sure your policy is renewable?
The reason to have renewable term life coverage is that you can renew your policy when the original term (duration) of coverage expires.
Why would you want to renew your term life insurance?
You may want to continue coverage (renew your policy) if you became ill, started a family, or any other reason where you would want to extend your life insurance coverage for a longer period of time.
With renewable term insurance you can renew your original term life policy for another term (usually up to 10 years) without any health exam required.
However, your new rate per $1,000 of life insurance coverage will increase based on your age at the time you renew the policy.
Learn more about renewable term life insurance coverage.
The reason to have renewable term life coverage is that you can renew your policy when the original term (duration) of coverage expires.
Why would you want to renew your term life insurance?
You may want to continue coverage (renew your policy) if you became ill, started a family, or any other reason where you would want to extend your life insurance coverage for a longer period of time.
With renewable term insurance you can renew your original term life policy for another term (usually up to 10 years) without any health exam required.
However, your new rate per $1,000 of life insurance coverage will increase based on your age at the time you renew the policy.
Learn more about renewable term life insurance coverage.
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