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What is “convertible” term life insurance?

April 26, 2017term life insurance

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What is “convertible” term life insurance?

1 Answer

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10 Posted

Some term life insurance policies are described as being “convertible”. A conversion provision allows the owner of the term life policy to convert from the term life insurance policy to a permanent life insurance policy during a specified period of time without having to show that the insured is in good health. The conversion period is shorter than the duration of the term insurance coverage.