The three year policy is essentially a three year guaranteed premium with the option to renew each year. You put in your information, then you put in your credit card, and it gives you a receipt for this year. (You will receive the original paperwork in the mail.)Next year you will get a login code and a password and if there are changes or updates you just put in your credit card and it charges you for one year again. And the same thing for the third year.