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WHEN IS LEVEL TERM INSURANCE USUALLY MORE APPROPRIATE THAN ANNUAL RENEWABLE TERM LIFE INSURANCE?

April 26, 2017annual appropriate Insurance level renewable term term life insurance usually

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WHEN IS LEVEL TERM INSURANCE USUALLY MORE APPROPRIATE THAN ANNUAL RENEWABLE TERM LIFE INSURANCE?

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With level term life insurance, the premiums remain level over a specified period of time. With annual renewable term life insurance the initial premium is usually lower, however with each renewable year the premium rises. Annual renewable term life insurance is usually cost-effective if the insurance protection is only needed for a few years (One to four years).