The first schedule the agent gave Ron was obviously a yearly renewable term insurance schedule. Given
that Ron is 24 years old, there would only be a slight increase in premiums each year during the early
coverage years. When Ron mentioned that he needed lifetime protection, the agent switched to a level premium schedule. Through level premiums, lifetime protection can be made affordable. Ron is bothered
by the fact that the level premiums exceeded the yearly renewable term premiums. Ron, however, did not
see the complete yearly renewable term schedule. In later years, the term premium would be far greater
than the level premium. Yearly renewable term premiums increase at an increasing rate, rendering this
method inappropriate if the goal is lifetime protection