What type of term policy may result in increasing premiums over time?

The correct answer is the annual renewable term policy. This type of policy is designed to provide term life insurance coverage that can be renewed every year without having to undergo a new medical examination. However, as the insured gets older, the risk to the insurer increases, which typically results in higher premiums upon each renewal.

In contrast, a level term policy maintains the same premium over the life of the policy, making it more predictable for the policyholder. A decreasing term policy has premiums that remain level, but the death benefit decreases over time, often aligning with specific financial obligations such as a mortgage. Whole life policies, which combine both insurance protection and a savings component, have stable premiums that do not increase with age. Thus, the annual renewable term policy uniquely stands out due to its structure that leads to increasing premiums as the insured ages.