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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Specific powers granted by the principal (the insurance company) to the agent in the contract. ...
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