What does Annual Renewable Term (ART) Insurance mean?

It comes in close relationship with the term life insurances, and it usually means that although you will have to make the periodic payments on a yearly basis, this type of insurance certifies the fact that they will offer you insurance for the period of years specified in the contract itself. Related to how this system works, premiums you have to pay will get more and more expensive with the passing of time. This is why such insurance policy is mostly convenient in the case a life insurance for a briefer period is needed.

Annual Renewable Term (ART) Insurance explained

As opposed to other types of life insurances, an Annual Renewable Term Insurance is not such a convenient solution, as with the passing of time it becomes more and more expensive. By choosing   a level term insurance, the premiums one has to pay will stay fixed, and are usually not subject to huge changes. ART can be contracted for a period of no longer than 30 years, but certainly the age of the person is taken into consideration always.