Which of the following statements about re-entry term insurance is true?

Question

Quizplus · Accepted Answer

Re-entry term insurance allows the insured to renew the coverage at the end of the term for another term, but with a new premium rate based on their current age and health status. If the insured can demonstrate insurability, they may be able to renew the coverage at a lower premium rate than if they had to purchase a new policy altogether. A and B are incorrect because re-entry term insurance does have limits on the number of renewals and does not offer a refund of premiums paid. D is also incorrect because re-entry term insurance is a type of term insurance, not a way to reinstate a lapsed permanent life insurance policy.

Which of the Following Statements About Re-Entry Term Insurance Is