A Renewable Term Life Insurance Policy Can Be Renewed at Life

A Renewable Term Life Insurance Policy Can Be Renewed. Term life insurance is a life insurance policy that expires at the end of a set number of years. Typically, you can renew your policy without a repeat of a medical exam or requalification.

This usually gives the policy owner the right to renew a term life insurance contract for an additional period equal to the period for which the contract was originally written. Yes but your insurance company may have already done it for you! However, the renewal is subject to a.

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The terms of renewing or extending your policy should be clearly laid out in your initial policy contract which makes it considerably easier for you and your family to plan for the future. This usually gives the policy owner the right to renew a term life insurance contract for an additional period equal to the period for which the contract was originally written. At a predetermined date or age, regardless of the insured's health b. At the end of this term period, almost every company gives you the option to renew your policy without having to prove proof of insurability.