Annual Renewal Term and Decreasing Term
Life Insurance
Annual Renewal Term insurance is life insurance where the death benefit purchased remains level for the life of the policy while the premium increases each year as you get older. Decreasing term insurance is a death benefit that decreases each year yet the premium remains level for the life of the policy. The policy cancels if premiums are not paid and neither of these type policies build cash value. In my opinion, with the development of level term products the annual renewal term
(ART) and decreasing term products are not the best buy any longer.
(ART) and decreasing term products are not the best buy any longer.
