Which type of life insurance is generally written as a one-year renewable term plan?

Group life insurance is typically written as a one-year renewable term plan. This type of insurance is often offered by employers or organizations to provide coverage for a group of individuals, such as employees. The policy is generally issued for one year and can be renewed annually. This structure allows for the flexibility to adapt to changes within the group, such as membership fluctuations or adjustments in coverage limits.

Renewable term plans mean that the coverage can be extended each year without needing to provide evidence of insurability, which is advantageous for groups where members may have varying health statuses. This encourages participation and provides a safety net for employees, ensuring that they retain coverage as long as they are part of the group.

Other types of life insurance, such as whole life and non-participating policies, operate under different structures and do not typically function as renewable term arrangements. Whole life insurance is designed to provide coverage for the policyholder's entire life and includes a savings component, while non-participating policies do not pay dividends to policyholders.