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Can term Life Insurance be renewed? Hi there! I'm wondering if term life insurance can be renewed. Can someone please clarify this for me?
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Yes, term life insurance can be renewed, but it depends on the specific policy and the terms set by the insurance company. Term life insurance provides coverage for a specific period, typically 10, 20, or 30 years. At the end of the term, the policy expires, and if the insured still needs coverage, they may have the option to renew the policy. However, the renewal process usually involves re-evaluating the insured's health and may result in an increase in premiums. It's important to review the terms of your policy and consult with your insurance provider to understand the renewal options available to you.
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