Term Life Insurance

Thursday, September 29, 2016
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Life Insurance Glossary

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Y

Yearly Renewable Term (YRT):
Provides the policy owner the right to renew his/her term life insurance policy at the end of each year without evidence of insurability. This annual renewal right continues until the policy owner reaches a specified age or for the number of years determined by the policy's contract. With most Annual (Yearly) Renewable Term contracts, the premium increases every year, especially as the insured reaches age 50 and older.

For more reference, click on any of the letters below to find life insurance terms that begin with that letter.
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