2007-01-11 06:07:02 · 7 answers · asked by JustWondering 1 in Business & Finance ➔ Insurance
nothing. That is what a 30 yr life policy is- after the 30 yr period is over, it expires & you can renew it.
2007-01-11 06:13:48 · answer #1 · answered by ricks 5 · 0⤊ 0⤋
no difference in the cover you get, but be careful...
30 year policies will probably be cheaper per month than a full term policy... That's because you will be younger and healthier and less likely to need to use it (less risk for the insurer), but in 30 years time it will cost more because you will be older and more likely to claim on the cover. It's possible too that the insurer will not renew the policy if they feel you present to great a risk... e.g. if you have been seriously ill in the first 30 years (heaven forbid).
A full term policy will be a set price for the whole term. It might start out a little more expensive at first, but with no renewal to worry about, you might save a bit of money in the long term...
End of the day, insurers are business people... They're in it to make money... Just do some research and I'm sure you'll find good quotes!
2007-01-11 06:22:02 · answer #2 · answered by supernicebloke2000 4 · 0⤊ 0⤋
The different between both insurance is the 'renewable condition'.
Term insurance is a non-participating insurance. It is also known as temporary insurance. It is in effect for a specified period of time, typically 5 years, 10 years, 20 years, etc.
If the policy comes with conversion option (guaranteed renewable condition), it means you can extend the policy without proof of health.
2007-01-11 14:04:46 · answer #3 · answered by malaysiainsuranceguide 3 · 0⤊ 0⤋
Term insurance can be renewed at the end of its term. The word term refers to the length of the term (1yr, 5yrs, 30yrs, etc). When the term ends you may renew at your new age, but without medical re-underwriting. The price will be much higher.
2007-01-11 09:10:50 · answer #4 · answered by jcollins_24 2 · 0⤊ 0⤋
Term life insurance cannot be renewed at the end of its term, hence "term" life insurance.
2007-01-11 06:42:10 · answer #5 · answered by dragondave187 4 · 0⤊ 0⤋
I might suggest one to try this web page where you can compare quotes from the best companies: http://HELP-INSURE.NET/index.html?src=5YAxnu68umH27deW1
RE :What is the difference between term life insurance and a 30-year life insurance renewable after 30 yrs.?
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2017-03-14 21:25:25 · answer #6 · answered by ? 6 · 0⤊ 0⤋
Same thing.
2007-01-11 07:12:21 · answer #7 · answered by Anonymous 7 · 0⤊ 0⤋