Annual Renewable Term Life Insurance offers you the option to annually renew your term insurance policy each year up to a specific age limit.
The chances of your dying increases statistically the older you get. That means your premiums will increase each year as you renew your term life insurance policy.
Level term life insurance may be a better option if you want premiums and coverage that remain level for 10, 15, 20 or 30 years.
If you buy your term life insurance policy when you are young and unlikely to die, you can usually get a large amount of life insurance coverage for an affordable premium.
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