Glossary of Insurance Terms

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Glossary of Insurance Terms

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LOMA's Glossary appears on the Web site by special permission of LOMA. However, LOMA makes no representation or endorsement, express or implied, regarding Berkshire Life Insurance Company of America or its products or services

	yearly renewable term (YRT) insurance

	One-year term life insurance that is renewable at the end of the policy term. Also known as annually renewable term (ART) insurance. See also term life insurance.

	yearly renewable term (YRT) reinsurance method

	A reinsurance premium payment method under which a ceding company pays a one-year term insurance premium to the reinsurer on the anniversary date of each reinsured policy.

LOMA's Glossary of Insurance and Financial Services Terms Copyright © 2002 LOMA (Life Office Management Association, Inc.). Used with permission from the publisher. All right reserved. Copying or downloading this information without permission from the publisher is a violation of federal and international law. For information on purchasing a copy of the Glossary or for additional information on LOMA and its educational programs, visit LOMA's Web site at www.loma.org. LOMA is a registered service mark of the Life Office Management Association, Inc.
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yearly renewable term (YRT) insurance

yearly renewable term (YRT) reinsurance method