What Does Renewable Term Life Insurance Mean?

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What does Renewable Term Life Insurance mean? Read on to discover the definition & meaning of the term Renewable Term Life Insurance - to help you better understand the language used in insurance policies.

Renewable Term Life Insurance

Renewable Term Life Insurance

Renewable term life insurance is a policy that gives the policyholder the option to extend their life insurance coverage beyond the period specified in the insurance contract instead of buying a new policy. In most cases, the price of the premium for the extension will increase.

We hope the you have a better understanding of the meaning of Renewable Term Life Insurance.

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