Which of the following statements about yearly renewable term insurance is (are)true?
I.It requires evidence of insurability for renewal.
II.It is most appropriate when an insured needs lifetime protection.

Question

Quizplus · Accepted Answer

Yearly renewable term insurance typically does not require evidence of insurability for renewal, and it is not suitable for lifetime protection as it is designed for short-term coverage.

Which of the Following Statements About Yearly Renewable Term Insurance