Renewable Term Insurance

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Renewable Term Insurance Also known as annual renewable term (ART). Insurance that is renewable for a limited number of successive terms by the policyholder and is not contingent upon medical examination. A renewable term is contingent on premium payments being up to date, as well as a renewal premium being paid by the beneficiary. With renewable term, coverage can be extended even if the insured's health has declined, but the new premiums will reflect their older age. Renewable term life will often have some limit at which point renewal is no longer an option, such as until age 70. major advantage of renewable term life insurance is that it allows you to reclaim your coverage at the end of your initial term. Allows you to keep the original face value amount (or death benefit) of your first policy. Permits you to renew your term life policy without having to start the application process again. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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