Additionally, most annual renewable term policies offer a conversion feature that allows you to exchange a term policy for a whole life or universal life policy without proof of health. (termland.com)
Well, the yearly renewable term policy starts out with probably the lowest rate you can get in a life insurance policy. (lifeinsurancehub.org)
At that point, when their annually renewable term policy gets more expensive, they can consider replacing it with a cheaper level term policy. (studentloanhero.com)