Yearly Renewable Group Term Insurance


  • A group term insurance policy that is reviewed year to year. To keep premiums manageable, an employer will review their group term insurance yearly.

group life insurance, annual term life insurance

Related Terms and Acronyms

  • Annual Administrative Fee Definition,
    • An annual (yearly) fee charged for the administration of a service.
  • Group Health Insurance Plan Definition,
    • Health insurance that covers a large group of people, often as part as a employee benefit package.
  • Group Home Care Definition,
    • An arrangement where a group of people with disabilities receive both custodial and medical care in a single residence instead of in their own homes, which can be prohibitively expensive.
  • Group Life Insurance Definition,
    • Life insurance offered to a large number of people belonging to an organization, usually as part of a benefit package.
  • Insurance Renewal Definition,
    • Extending the term length on an insurance policy.
  • Renewable Term Definition,
    • An insurance policy that is can be renewed without needing the policyholder to re-qualify for insurance coverage.
  • Term Definition,
    • The length of time you commit to repay a lender or bank at an agreed upon interest rate and payment schedule. The interest rate usually remains constant during this term unless the commitment states otherwise. For example, a five year fixed rate mortgage has a term of five years.
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