Renewable Term


  • A clause available in some insurance contracts that gives the insured to option to renew coverage for another term without requiring the insured to re-qualify for coverage.

renewable insurance term

Related Terms and Acronyms

  • Guaranteed Renewable Definition,
    • An insurance policy that gives the insured the option to renew the policy at the end of the its term, however the insurer has no restrictions on raising premiums.
  • Insurance Renewal Definition,
    • Extending the term length on an insurance policy.
  • Pre-paid Insurance Definition,
    • A insurance policy where insurance premiums are all paid in advance, normally offered in one year terms.
  • Yearly Renewable Group Term Insurance Definition,
    • A group insurance policy that is annually reviewed to keep premiums manageable.
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