4. Implementation of processes and procedures: Based on the observed coverage of the old OH&S management system and the reported gaps, the newly created documents have to be ensured for thorough implementation. We shall guide the operators on such implementation activities. 5. Conclusion of complete transition: This is done through the internal audit which verifies all elements of ISO 45001 standards and identifies the residual areas that still do not conform to the new standard. The areas will be identified as nonconformities.
Annual renewable term insurance Annual Renewable Term Insurance An insurance policy in which the insurer guarantees the policyholder will be insurable for a set number of years (often 10 to 30), but premiums are only guaranteed for a year at a time. That is, the insurer may raise premiums each year even though it may not cancel the policy for the stated number of years. Annual renewable term insurance is usually less beneficial for the policyholder than for the insurer. Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved Annual renewable term insurance. If your term life insurance is an annual renewable policy, you can renew your coverage each year without filling out a new application or passing a physical exam. However, the premium, or the amount you pay for the policy, isn't fixed, and goes up each time you renew. Policies with five- or ten-year terms may also be renewable, with comparable increases in their premiums. Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.