Renewable term

Renewable term,

Definition of Renewable term:

  1. In the context of a life insurance contract, a renewable term clause would be beneficial, as future health circumstances are unpredictable. Although the initial premiums are likely to be higher than those of a life insurance contract without a renewable term clause (the insurance company must be compensated for this increase in risk), this type of insurance is usually in the beneficiary's best interest.

  2. A renewable term is a clause in a term insurance policy that allows the beneficiary to extend the coverage term for a set period of time without having to re-qualify for new coverage. A renewable term is contingent on premium payments being up to date, as well as a renewal premium being paid by the beneficiary.

  3. Refers to a term life policy that may be renewed without the insured having to provide evidence of insurability.

How to use Renewable term in a sentence?

  1. With renewable term, coverage can be extended even if the insured's health has declined, but the new premiums will reflect their older age.
  2. Renewable term refers to a clause in many term life insurance policies that allow for its renewal without he need for new underwriting.
  3. Renewable term life will often have some limit at which point renewal is no longer an option, such as until age 70.

Meaning of Renewable term & Renewable term Definition

Renewable Term,

Renewable Term:

  1. Renewable Term means, Life insurance that can be renewed regularly without proof can be insurance, but usually at a higher premium.

  2. Renewable Term means, Life insurance that has expired but can be renewed every year is usually a much higher premium. Also known as the annual renewable term.

Literal Meanings of Renewable Term

Renewable:

Meanings of Renewable:
  1. An energy resource that does not run out of water, wind or solar energy.

  2. (Of agreements, contracts, etc.) that are renewable.

  3. (Natural resources or energy sources) have not decreased.

Sentences of Renewable
  1. Renewable energy production costs more than coal, oil or gas.

  2. The 30-day war could be extended by mutual agreement

  3. Moving from fossil fuels to renewable energy

Term:

Meanings of Term:
  1. Enter a descriptive name to be called by a specific name.

  2. Words or phrases that are used to describe something or to express an idea, especially in a particular language or field of study.

  3. A fixed or limited period of time during which something, such as an offense, imprisonment, or investment, remains or should remain.

  4. Every time of the year, with holidays or vacations alternating, when teaching at school, college or university, or when progress is being made in court.

  5. Terms under which actions may be taken or some agreements may be reached.

  6. Any amount of ratio, series or mathematical expression.

  7. Another term for the term

Sentences of Term
  1. Called the father of modern theology

  2. Musical term "litmotio"

  3. The president is elected for a four-year term

  4. Summer semester

  5. Only your path can be handled

  6. A geometric series is defined as a permanent relationship between successive terms.

Synonyms of Term

word, idiom, requisite, describe as, period of time, proviso, duration, specification, session, spell, designate, time, turn of phrase, dub, name, prerequisite, period, length of time, style, entitle, locution, title, precondition, stint, label, expression, tag, call, phrase, condition