What Is YRT Life Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.YRT Life Insurance stands for Yearly Renewable Term Life Insurance. This is life insurance that must be renewed each year, and for which the price may go up each year. Some YRT policies require a new exam and qualification to be renewed for the next year, and some do not.Answered on August 8, 2013flag this answer
5877 POINTSview profileStan Cox IIInsurance Adviser - Broker, SC Insurance Services, Oahu, HawaiiYRT means Yearly Renewable Term. So it's a Term insurance good for one year and guaranteed renewable. That is up to a certain age, usually 80 years. However the premium does go up every year as dictated by the mortality table. So if a person in their 20s starts a YRT the premium may actually Not increase on the 2nd or 3rd year - or at least not more than a couple dollars. But if a person in their 40s or 50 starts a YRT you can count on the premium increasing significantly each year it is renewed. That's just how Term works.Answered on September 2, 2015flag this answer
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