What is a term life policy?
Term insurance is the simplest form of life insurance it provides coverage for a specified period of time (term) and simply provides a benefit upon death. Usually there are no cash value benefits nor any dividends generated with term insurance. Premiums are renewable and usually increase at every renewal date. Term insurance includes a conversion privilege that allows the insured to convert to permanent insurance at key times during the policy coverage. [Return to Top] What is a term conversion? A term “conversion” is an exchange of a term life policy for a permanent plan without a medical examination requirement. Premiums for the permanent plan are based on your age at the time of the conversion and the specific product chosen. [Return to Top] How do I change my beneficiary? A Change of Beneficiary form can be downloaded from the Term Life Insurance Forms page. Send the original form, signed by the owner, to our office to be reviewed and recorded. You may want to keep a copy for your
