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What are the disadvantages of a renewable term life insurance?

Answer:
Renewable term or ART (Annual Renewable Term) - premium increases every year as you get older.
A level term policy however has level premiums for the length of the term. Also, you can also get a Return Of Premium level term, and get your money back at the end of the term if you outlive your policy.
Other option is to convert your term policy into a permanent type policy, like whole life or universal life.
An experienced agent can help with this.
Contributor: LifeGuy.com
First answer by LifeGuy.com. Last edit by LifeGuy.com. Contributor trust: 2 [recommend contributor recommended]. Question popularity: 1 [recommend question].

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