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Definitions
- Y
Yearly
Renewable Term (YRT):
A Term Life insurance policy that provides a level death benefit
with premiums that increase each year with the insured's age.
YRT provides financial protection only in the event of death and
has no cash value. Also known as Annual Renewable Term (ART) or
One Year Term.
Some whole life
policies let you pay premiums for a shorter period such as 20
years, or until age 65. Premiums for these policies are higher
since the premium payments are made during a shorter period.
Quick Life
Insurance Terms Glossary
(some definitions
taken from the National Association of Insurance
Commissioners' Life Insurance Buyers
Guide)
LIFE
IS COMPLICATED....
BUT TERM LIFE INSURANCE DOES NOT HAVE TO BE.
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