Annual renewable term insurance is a type of term life insurance that provides coverage for one year at a time with the option to renew annually.
The insured's age at a specific point in time, often used to determine premiums and eligibility in insurance policies.
Mortgage Life Insurance is a type of term life insurance specifically designed to pay off the remaining mortgage debt in the event of the policyholder's death, thus ensuring that the surviving household members are not burdened with the mortgage debt.
Coverage that stays effective for a specified, limited period. If the insured dies within that period, the beneficiary receives the death payments. If the insured survives the term, the policy ends and no payment is made.
