10 Year Renewable & Convertible Term

 
10-Year Term option offers the most cost effective initial premium, it increases every ten years and expires at age 80/85 without value.  This may be the best product if your needs are of a temporary nature.
 
Initial and renewal premiums are stipulated in the contract.
 
Premiums on this program renew at an increased rate every 10 years, until the Policyholder attains the age of 80 or 85 at which time the contract terminates.
 
The contract does allow for “conversion” where you, the insured, is allowed to exchange the contract for one of a more permanent nature without having to provide evidence of good health.  This is good for known short-term needs and is the cheapest coverage for short term but premiums REALLY jump in the second ten years.