renewable term insurance
- Term insurance with a provision for renewal without an additional medical examination.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
annual renewable term insurance — See: term insurance. Bloomberg Financial Dictionary … Financial and business terms
Renewable Term — A clause in a term insurance contract that allows the beneficiary to extend the coverage term for a set period of time without having to requalify for coverage. A renewable term is contingent on premium payments being up to date, as well as a… … Investment dictionary
term insurance — Life insurance under a contract providing protection for a stated number of years, subject to the payment of premiums, sometimes renewable without an additional medical examination, sometimes convertible to other forms of life insurance written… … Ballentine's law dictionary
renewable term life insurance — A policy for a stated period that may be renewed if desired at the end of the term. Bloomberg Financial Dictionary … Financial and business terms
Decreasing Term Insurance — A type of annual renewable term life insurance that provides a death benefit that decreases at a predetermined rate over the life of the policy. Premiums are usually constant throughout the contract, and reductions in policy payout will typically … Investment dictionary
Annual Renewable Term (ART) Insurance — A form of term life insurance that offers a guarantee of future insurability for a set period of years, although premiums are paid every year on the basis of a one year contract. As such, the premiums will rise over time as the insured person… … Investment dictionary
Yearly Renewable Term - YRT — A one year term life insurance policy. This type of policy gives policy holders a quote for the year the coverage is bought. When you buy the yearly renewable term insurance policy, the premium you are quoted is for you at the given year that you … Investment dictionary
Yearly Renewable Term Plan of Reinsurance — A type of life reinsurance where mortality risks are transferred to a reinsurer. In the yearly renewable term plan of reinsurance, the primary insurer (the ceding company) yields to a reinsurer its net amount at risk (the difference between the… … Investment dictionary
Yearly Renewable Group Term Insurance — A type of insurance policy purchased by employers to cover several people at a time and is reviewed on a yearly basis, which helps reduce premiums paid by the employer. Yearly renewable group term insurance range from $100,000 to $1 million in… … Investment dictionary
Term life insurance — or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client… … Wikipedia