New York State Life Insurance Exam Questions Practice Question
Renewable Term Life Insurance guarantees the policy can be renewed
Correct Answer: A
Rationale: Renewable Term Life Insurance allows policyholders to renew their coverage up to a specified date or age without concern for their health status, ensuring continuous protection.
Option B incorrectly suggests that renewal requires evidence of insurability, which contradicts the core benefit of guaranteed renewability. Option C implies that renewal can occur at the same premium until age 100, but this is not universally applicable and could vary by policy. Option D states unlimited renewals regardless of life expectancy, which is misleading; policies typically have a maximum renewal age. Thus, A accurately reflects the terms of renewable term life insurance.
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