Final answer:
At the re-entry option date in term life policies, the premium typically changes. This is due to the recalculated costs based on the policyholder's age and health. Unlike cash-value life insurance, term life does not accumulate cash value but focuses on coverage for a designated term.
Step-by-step explanation:
At the re-entry option date found in some term life policies, what typically changes is the premium. Term life insurance is a policy where the premium is fixed for a specified term, after which the policyholder may have the option to continue the coverage, often at a higher premium that is recalculated based on their age and health status at that time. This is different from cash-value (whole) life insurance, which does have a death benefit and also accumulates a cash value over time, serving as an account for your use. While beneficiaries, coverage amounts, and contestable periods are also important aspects of life insurance, they are not typically what changes at the re-entry option date.