Abbreviation ART stands for which type of term life policy?

Abbreviation ART stands for which type of term life policy?

• A. Annual renewable term
• B. Renewable provision
• C. Convertible provision
• D. Permanent life insurance

Answer: (A)

ART stands for annual renewable term. This type of term life policy provides coverage for one year and can be renewed each year, with the premium typically increasing as the insured ages. It has no cash value, since it’s a pure term product. The abbreviation reflects its short-term nature and the option to renew annually, unlike permanent life insurance which builds cash value or other options that describe features rather than the one-year renewal concept.

ART stands for annual renewable term. This type of term life policy provides coverage for one year and can be renewed each year, with the premium typically increasing as the insured ages. It has no cash value, since it’s a pure term product. The abbreviation reflects its short-term nature and the option to renew annually, unlike permanent life insurance which builds cash value or other options that describe features rather than the one-year renewal concept.