Types of Life Insurance
1) Term Life Insurance: Continued ....
... for instance if it was a twenty-year term, then after the first twenty-years it would renew for another twenty years. It might have a projected renewal premium and must have a guaranteed maximum renewal premium. As stated before, the new premium will as well be based on the insured person having advanced in age. For the reason that they are now twenty years older, the increase will be considerable.
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