Can Term Life Insurance Be Renewed?

Can you renew a term life insurance policy?

Yes, many term life insurance policies are renewable, which means you may renew your term insurance for another term , usually up to 10 years.

However, some term life plans offer renewable coverage that increases your premiums each and every year after your initial rate guarantee period which may be 10, 15, 20 or 30 years.

It may be cheaper to purchase a new term life insurance policy instead of renewing your current plan.

To learn more, read this article - Can Term Life Insurance Be Renewed?