What Is Annual Renewable Term Life Insurance? 
Annual renewable term life insurance means that the premiums for a policy are not guaranteed and will increase each year -LRB- based on age -RRB- by a good margin -LRB- often a substantial increase -RRB- even though you can technically keep it going til the coverage end date -LRB- e.g. 95 -RRB- . In short , you likely would not keep the policy going beyond the first couple years -LRB- if at all -RRB- due to the sheer expense of the program . When you 're buying term life insurance , you want to set up a policy that features a level term guarantee -LRB- meaning you 're paying the same premium for a set number of years - e.g. 10 years , 15 , years , 20 years , 25 years , or 30 years -RRB- . The longer the term guarantee , the better -LRB- even though it does cost more to secure a longer term guarantee , it can provide much more cost savings over time the longer you live -RRB- . If you want to guarantee the premium remain fixed and guaranteed for the rest of your life , you would want to set up a permanent insurance policy -LRB- either a universal life or whole life poilcy , depending on coverage needs -RRB- . I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions . Thanks very much . 