Which of the following statements about renewable term insurance is incorrect?

Renewable term insurance is a type of life insurance that provides coverage for a specified term and allows the policyholder to renew the policy after the term ends without needing to provide evidence of insurability, such as a medical exam or health information. This feature is what distinguishes renewable term policies; the insurer cannot refuse renewal based on the insured's health at the time of renewal.

The other statements about renewable term insurance are accurate. For instance, renewable term insurance does not accumulate permanent cash value or loan value, which is typical of permanent life insurance policies. It can indeed be written independently or in conjunction with other types of insurance, giving consumers flexibility in their coverage options. Additionally, since it is based on a set term or age limit, the policy will expire after a designated period unless renewed. The requirement for evidence of insurability being necessary for renewal is incorrect and reflects a fundamental characteristic of renewable term insurance.