Purchase yearly renewable term (YRT) or shorter term insurance (e.g., five - year term) if the client wants or needs to pay absolutely minimal initial premiums, but is willing to pay increasingly larger premiums each consecutive year (or at each renewal date) to keep the same level of coverage in force.
These policies have some whole life and the use dividends and premium to
purchase yearly renewable term to make up the full face amount.
Not exact matches
Consumers also have the opportunity to
purchase a
yearly renewable policy, or one - year level
term and five - year
term life insurance.
Often as a part benefit package, an employer
purchases a
yearly renewable group
term insurance policy for its employees.