Renewable Term
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What does Renewable Term mean? Read on to discover the definition & meaning of the term Renewable Term - to help you better understand the language used in insurance policies.
Renewable Term
Term life insurance that may be renewed periodically without evidence of insurability but often at a higher premium.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
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