Most the the term life insurance policies sold today provide guaranteed renewability, which gives you the option to continue your life insurance coverage beyond the initial rate guarantee without having to take any health exam to prove your insurability.
This renewability feature may become very important to your family if you should become sick or uninsurable during the time your are covered by your original term life insurance policy.
Another option to look for is conversion privilege, some term life policies offer the option of converting your term life insurance into a permanent life insurance policy by a certain date specified in your term life policy.
If you choose to convert to permanent coverage your premium will increase, but you will have guaranteed lifetime protection as long as you pay your premiums.
Learn more about important life insurance terms to know before choosing a life insurance policy.
