Yearly Renewable Group Term Insurance

What is ‘Yearly Renewable Group Term Insurance ‘

A type of insurance policy purchased by employers to cover several people at a time and is reviewed on a yearly basis, which helps reduce premiums paid by the employer. Yearly renewable group term insurance range from $100,000 to $1 million in increments of $25,000. This insurance does not force possible policyholders to provide medical evidence and they are only subject to basic insurability conditions.

Explaining ‘Yearly Renewable Group Term Insurance ‘

This plan includes an accelerated benefit provision for policyholders who are diagnosed with a terminal illness. Insurance premiums increase as the policyholder ages. Policy certificates are renewable annually until the age of 80. Unless they have previously renewed their policy, if a policyholder dies a day after the one-year term, the beneficiary will not receive benefits. Generally, new policyholders are allowed a full 30-day period to review coverage before the premium amount is due.

Further Reading

  • Pricing optional group term insurance: a new approach using reservation prices – [PDF]
  • Economic welfare impacts from renewable energy consumption: the China experience – [PDF]
  • The impact of the financial–economic crisis on sustainability transitions: Financial investment, governance and public discourse – [PDF]
  • The impact of financial development, income, energy and trade on carbon emissions: evidence from the Indian economy – [PDF]
  • Beyond carbon pricing: The role of banking and monetary policy in financing the transition to a low-carbon economy – [PDF]
  • The cost of financial frictions for life insurers – [PDF]
  • A new concept of the economics of life value and the human life value: A rationale for term insurance as the cornerstone of insurance marketing – [PDF]
  • Market-pull policies to promote renewable energy: A quantitative assessment of tendering implementation – [PDF]
  • Anglo-Saxon and German approaches to neoliberalism and environmental policy: The case of financing renewable energy – [PDF]
  • CO2 emissions, energy consumption, economic growth, and financial development in GCC countries: Dynamic simultaneous equation models – [PDF]