Great post over at Home Insurance Guide website on the different types of term life insurance policies and which to choose for your situation. I really liked how they broke down the different plans and why you would use one over the other.
| Which Term Life Insurance Policy Is The Best For You |
For the most part there is four major product lines of term life insurance plans available:
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“ART” or Annual Renewable Term Life:
Or it is also called “yearly renewable term” or YRT and ART or “annually renewable term” |
| Most carriers have guaranteed their level term life products for the whole term period, they have done this primarily due to competition. |
Mortgage Term or Decreasing Term Life: |
| Return Of Premium Term Life: |
| The return of premium life plans are great if you can justify paying more now for the potential to get all your premium back down the road. |
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