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Renewable Term Life Insurance 

Renewable term life insurance gives you the contractual right to continue the policy for another term period. Renewable term life insurance policyowner may unconditionally renew the term life insurance coverage without needed to show evidence of good health. The most common form of renewable term life insurance is One Year Renewable Term (YRT) or Annual Renewable Term (ART). Annual renewable term policies are typically provided through your employer as a company, “group benefit”.
Premiums are typically higher for renewable term life insurance policies than for nonrenewable policies, but lower than for other forms of term life insurance. Renewable term life insurance premiums increase after the initial and then each subsequent policy period. In addition to the higher premiums charged for the next renewal period, renewability may be restricted at older ages, when the need for life insurance coverage may be greatest.
Employer Provided Renewable Term Life
Renewable term life insurance is typically an employer provided group life insurance benefit. If you were to leave your job at this employer it is likely you will also lose your life insurance coverage through work. To make sure, ask your employer what would happen to your renewable term life insurance provided through your employer if you were no longer working there? It is important to check with your employer ahead of time and not wait until it is too late to get the life insurance coverage you need.
Renewable term life insurance characteristics:
•Easy to Renew Coverage
•Premium Increase at Each Renewal
•Annual Renewable Term
•Workplace Life Insurance

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I have life insurance through my job.
Have you asked your employer?
What happens to your life insurance when you are no longer working at your current job?
Can you take your employers life insurance with you, or do you lose your life insurance benefits?
If you can keep the coverage, how much would it cost?
Do you need to qualify for the life insurance policy with an application, exam and other requirements?



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