1. Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    What is "true term life insurance"?  Annual increasing premium term insurance is what fits the definition of true term life insurance.  Annual increasing term is a one year premium, each year a new premium is created and year after year th cost rises to reflect the true cost of insurance.

    With AIPT you only pay for the actual premium for that period of time. There is no extra premium applied to be held in reserve to balance the cost. 

    What most people, even the people who blast permanent insurance don't realize is level term is a form of permanent insurance. Just a different time frame for the product. You overpay early to underpay later. The overpayment is invested early to help with the cost later, just like permanent. 
    Answered on May 7, 2013

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