What Is Annual Renewable Term Life Insurance? 
That is an excellent question ! There are a lot of great answers above , but I 'll give it to you in plain English : It 's insurance speak for `` We will take your money until you go broke and lose your coverage '' . Simply , that is what will happen . A term policy with this tag is marketed to you to make you think that it will last beyond its set term . It will , but look in your policy at the annual payment section . See how dramatically it rises ? Bet after the second year it 's become unaffordable , and you drop the policy ... Part of the reason I do this website is because of the insurer who hooked me with one of these policies back before I understood what she was selling me , and am doing my best to keep others from being hooked like I was . There are better policies out there , I promise you , and I 'd advise you to seek a second independent agent for alternatives . Thanks for asking ! 