If you are looking for renewable term insurance, we can help you find quotes. Here are some of the most frequently asked questions we receive on renewable term life insurance:
What is renewable term insurance?
Renewable term insurance is a life insurance policy that may be renewed after the term is up. It may be used as a way to keep coverage as you get older.
Why would I get a renewable term policy?
Because renewable term insurance may continue to give you coverage after your term life policy expires.
Will renewable term life insurance cost me more for a new policy?
Generally, yes. As you age, your life expectancy decreases. Therefore, a renewable term may usually cost more.
Is there any investment component or cash value in renewable term life insurance?
No. For that, you may want to consider a universal life insurance policy.
How long can you keep a renewable term life insurance policy?
With renewable term insurance, you may be able to keep with an existing policy up to a certain age as long as you pay the premiums, even if you have health issues that may preclude you from other life insurance policies. The age limit generally varies, depending on their policy. It can be up to age 65, but sometimes older.
How do I get a renewable term policy?
After being quoted for a policy, you generally need to undergo a medical exam to determine your eligibility. The results of this medical examination as well as your lifestyle and the assessed risks of your death will typically affect the amount of your policy premium. Things like smoking and health problems usually affect your renewable term costs.
How long a renewable term policy can I get?
You can either buy an annually renewable term insurance policy, or a renewable term that covers a longer time frame from between 5 to 30 years.
Can I convert a renewable term insurance policy to a permanent one?
Yes, you may be able to convert your policy depending on your particular situation.
How can I get a quote?
Just fill out this short, simple form and we can help you find quotes!