Re-entry Term Life Insurance
Definition of "Re-entry term life insurance"
Yearly renewable term (YRT) life insurance under which an insured can usually re-apply for term insurance every fifth year at a lower premium than the guaranteed renewal rate. If the insured's health is good (as documented by evidence of insurability), the guaranteed renewable term premium can be reduced. If not, the guaranteed rate must be continued to be paid on renewal.
Popular Insurance Terms
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Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
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Type of mutual insurance company that requires a substantial initial premium payment. After the initial premium payment is made, future premium payments required will be paid from the ...
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