The low premium payments continue until the insured reaches the age of 65. There is no insurance or cash value after age 65. Annual Renewable Term is good for one year. The premium increases each year. Five Year and Twenty Year plans have a level premium for the number of years of the plan.
Premiums increase only at renewal.
These plans have no cash value. This is ideal for those who are interested in having a large amount of temporary protection at a low cost for a certain period of time.