Annually Renewable Term Life Insurance

InsuranceUSA.com strives to make the process of buying life insurance as pleasant and efficient as possible, helping you avoid mistakes by having a competent grasp on how life insurance functions. We think you should know as much as possible so you can make informed policy choices.

When shopping for a life insurance policy, you will quickly find there are many different policies from which to choose. Fortunately, InsuranceUSA.com is here to help you cut through the confusion with clear and concise information on various life insurance types and plans.

Annually Renewable Term Life Insurance
Annual Renewable Term (ART) life insurance is a life insurance plan that guarantees the insurer will provide coverage for a set number of years. While premiums are paid each year, as if it were a one-year contract, the premiums rise as a person ages. This differs from a level-term policy, for which premiums remain constant over the length of the contract.

When the plan ends, there is often a provision for renewal or conversion. Some plans have Guaranteed Renewal, which means that the insurance company is guaranteed to write another policy of equal or lesser value with no regard to actual insurability. Other companies will require some proof of insurability in order to mitigate risk. This also enables them to decline renewals for clients deemed high-risk, such as those with a terminal disease.

Companies that require proof of insurability often include a conversion option. This allows the insured client to convert their term program to a permanent one offered by the company. Permanent programs are typically more costly, but the insured will face losing their coverage if they decline.

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When shopping for a life insurance policy, you will quickly find there are many from which to choose. Different insurance companies often offer rates that differ greatly, and it pays to shop carefully for the lowest premiums, excellent customer service, and a strong financial reputation.

So what are you waiting for? InsuranceUSA.com is here to help you find the Annual Renewable Term life insurance policy that best fits you and your personal situation, while still remaining affordable. Get started now and sleep well at night knowing that your family and loved ones will be provided for, no matter what happens!