Glossary

Y

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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.