The insurance that does not extend for the entire life span, ends after a specified time , if the insured is then still alive.Term insurance often includes provisions guaranteeing the rights to:
- renewal- to buy a new term policy or extend the existing one for period of time after expiry of the initial term period without providing any additional evidence of insurability.
- conversion-to buy a new policy which is not term insurance at some specified time at or before expiry of term (again, without evidence of insurability)
* One-Year Renewable Term
* Re-Entry Term
* Level Term
* Decreasing Term
* Automatically Convertible Term
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