Renewable - This is a not for profit policy offering coverage for a fixed period of five (5) years. At the end of the period, the policyholder may renew for a further five (5) years at the rate of his current age. There is no surrender value on this policy and the sum assured is paid out on the death of the insured.

Non - renewable - Terms are the same as the previous except that the period is fixed for a particular time and it is not renewable. Should the insured survive the term, the contract will expire.