It is a term life policy provision allowing the insured to renew the policy at the end of its term without having to show evidence of insurability
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A. B. C. D.D
The correct answer to the question is D. Renewability.
Renewability is a provision that allows the policyholder to renew their life insurance policy at the end of the term without having to show evidence of insurability, meaning they do not have to undergo a new medical exam or provide updated health information. This provision is commonly found in term life insurance policies.
Term life insurance is a type of life insurance that provides coverage for a specific period, usually between one and thirty years. If the insured dies during the term of the policy, the death benefit is paid to the beneficiaries. If the insured outlives the term of the policy, the coverage ends, and no benefit is paid.
Straight term policies and decreasing term policies are both types of term life insurance, but they differ in how the death benefit is structured. Straight term policies provide a level death benefit for the entire term of the policy, while decreasing term policies provide a death benefit that decreases over time.
In summary, the provision that allows the insured to renew a term life insurance policy at the end of its term without having to show evidence of insurability is known as renewability, which is the correct answer to the question.