1. A term policy that allows the insured to buy an additional term period of coverage without evidence of insurability is ________ term insurance.
2. A renewable term insurance policy is said to have a ________ premium, as premiums will increase at each renewal to reflect the insured’s higher age.
3. Under a ______ term insurance policy the premium will be reduced to a select, but if theinsured cannot prove insurability, the insured can renew only at a higher, or _______ level.
4. A term policy that allows the insured to change to a permanent insurance policy withoutany evidence of insurability is a ________ term insurance policy.
5. Term insurance may be converted at either the insured’s ________ age or at the insured’s _______ age, depending on the terms of the policy.
- 1. renewable
- 2. step-rate
- 3. re-entry / ultimate
- 4. convertible
- 5. attained / original