Convertible Term Life Insurance

Convertible Term Life Insurance is a type of term life insurance that allows policyholders to convert their term policy into a permanent life insurance policy without providing evidence of insurability. The conversion can be done at any time during the term period. The new premium is typically based on the insured person’s age at the time of conversion.

Key aspects of Convertible Term Life Insurance include:

1. Conversion Option: Allows switching from term to permanent insurance.
2. No Evidence Required: Conversion does not require proof of insurability.
3. erNew premiums are calculated based on the age at conversion.

This option provides flexibility for policyholders who may want permanent coverage later without undergoing additional medical examinations.