6. All the following statements about yearly renewable term (YRT) insurance are true EXCEPT:

1. The insured is not required to prove insurability to renew YRT coverage.
2. YRT is the least expensive form of life insurance at a given age.
3. YRT is not appropriate if the goal is permanent, life-time, protection.
4. YRT builds cash value gradually over time.
5. YRT premiums increase at an increasing rate each year as the coverage is renewed.