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Yearly Renewable Term Plan of Reinsurance

What is 'Yearly Renewable Term Plan of Reinsurance'

A type of life reinsurance where mortality risks are transferred to a reinsurer. In the yearly renewable term plan of reinsurance, the primary insurer (the ceding company) yields to a reinsurer its net amount at risk (the difference between the face value and the cash value of a life insurance policy) for the amount that is greater than the retention limit on a life insurance policy to a reinsurer. If the insured dies, the reinsurance pays the portion of the death benefit that is equal to the net amount of risk.


Also called yearly renewable term (YRT) or risk premium reinsurance basis.

Explaining 'Yearly Renewable Term Plan of Reinsurance'

Reinsurance allows insurance companies to reduce the financial risks associated with insurance claims by spreading some of the risk to another institution. A yearly renewable term plan of reinsurance allows the primary insurance company to spread some of the risk involved in a life insurance policy to another institution. The premium paid by the ceding company for the reinsurance varies based on the policyholder's age, plan and policy year.


Further Reading


Reinsurance and corporate taxation in the United Kingdom life insurance industry
www.sciencedirect.com [PDF]
… The notion of the incremental use of reinsurance is also important in the current study. This is because, unlike short-term property and liability insurance (which is normally written on an annual renewable basis), life insurance/reinsurance is usually written on a multi-year …

Convergence of insurance and financial markets: Hybrid and securitized risk‐transfer solutionsConvergence of insurance and financial markets: Hybrid and securitized risk‐transfer solutions
onlinelibrary.wiley.com [PDF]
… The notion of the incremental use of reinsurance is also important in the current study. This is because, unlike short-term property and liability insurance (which is normally written on an annual renewable basis), life insurance/reinsurance is usually written on a multi-year …

AAUTI SUMMARIES OF STUDIES AND RESEARCH IN INSURANCEAAUTI SUMMARIES OF STUDIES AND RESEARCH IN INSURANCE
search.proquest.com [PDF]
… The notion of the incremental use of reinsurance is also important in the current study. This is because, unlike short-term property and liability insurance (which is normally written on an annual renewable basis), life insurance/reinsurance is usually written on a multi-year …

An Empirical study on the reinsurance decisions of Korean life insurance companiesAn Empirical study on the reinsurance decisions of Korean life insurance companies
211.253.42.153 [PDF]
… The notion of the incremental use of reinsurance is also important in the current study. This is because, unlike short-term property and liability insurance (which is normally written on an annual renewable basis), life insurance/reinsurance is usually written on a multi-year …

Insurance-Linked Securities: Structured and Market SolutionsInsurance-Linked Securities: Structured and Market Solutions
link.springer.com [PDF]
… The notion of the incremental use of reinsurance is also important in the current study. This is because, unlike short-term property and liability insurance (which is normally written on an annual renewable basis), life insurance/reinsurance is usually written on a multi-year …


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