What type of policy may be renewed at the end of a specified period of time for another term period without evidence of insurability?

Question

Quizplus · Accepted Answer

A renewable term may be renewed at the end of a specified period of time for another term period without evidence of insurability. When an individual purchases a 5-year term, at the end of the 5-years the individual may renew the policy for another 5-year period without evidence of insurability. The renewability of a policy can be limited to a number of renewals or age of the insured. It should be noted that the renewable feature must be written into the original policy.

What Type of Policy May Be Renewed at the End