What is the Definition of Yearly Renewable Term Insurance?

What is the Definition of Yearly Renewable Term Insurance?

One-year term life insurance that is renewable at the end of the policy term. Also known as annually renewable term (ART) insurance. (See Term life insurance)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Yearly Renewable Term Insurance?

You can find random definition and meaning of insurance terms below:


What is the meaning of Environmental Pollution Liability

liability coverage of an insured to persons who have incurred bodily injury or property damage from acids, fumes, smoke, toxic chemicals, waste materials or other pollutants.


What is the meaning of Equity Indexed Annuity

a fixed annuity that earns interest or provides benefits that are linked to an external reference or equity index, subject to a minimum guarantee.


What is the meaning of Errors and Omissions Liability | Professional Liability other than Medical

liability coverage of a professional or quasi professional insured to persons who have incurred bodily injury or property damage, or who have sustained any loss from omissions arising from the performance of services for others, errors in judgment, breaches of duty, or negligent or wrongful acts in business conduct.


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