What does Annually Renewable Term mean? Read on to discover the definition & meaning of the term Annually Renewable Term - to help you better understand the language used in insurance policies.
Annually Renewable Term
A form of renewable term insurance (ART) that provides coverage for one year and allows the policyowner to renew coverage each year, without evidence of insurability. Also called yearly renewable term (YRT).
We hope the you have a better understanding of the meaning of Annually Renewable Term.