@limeaide , ART is inexpensive at first, but the premiums increase over time. Some plans have a level premium for a certain number of years, and are renewable after that; the plans my company offers are like that. You can renew annually until age 99 if you want to, but the premiums get bigger and bigger. For example, you could buy a $500,000 10-year level term policy from my company for $375/yr, but at age 42, after the level period ends, the renewal premium would be $2450. It just goes up from there, to over $12,000 annually at age 60. However, the terms of renewal don’t require any underwriting, so you would be able to renew the policy even if you had terminal cancer. No way could you go out and buy a new life insurance policy under those conditions.
Most people end up better off with longer-term level premium plans. However, ART is a good choice if your needs are temporary. For example, if you are doing contract work and you don’t have an employer-sponsored life insurance plan.