Health and Life Insurance

Category - Annuities & Policies

What is the purpose of a reentry term?
  1. To apply for lower premiums
  2. To apply for a larger policy
  3. To miss one premium without forfeiture
  4. To apply for better coverage after the wait period
Explanation
Answer: A - The purpose of a reentry term is to apply for lower premiums. The option of reentry, or reissue, affords the insured the opportunity to provide insurance evidence and qualify for lower premiums. A reentry term is essentially reviewed as a new applicant for a policy.
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