Yes, some term life insurance policies may be able to be converted into permanent life insurance.
When you leave your employer, if you have a group term life policy at work, you may be able to convert your coverage into an individual permanent life insurance policy.
Also, if you own your own term life insurance policy, you may be able to choose convertible coverage, or a convertible term life insurance policy, which gives you the option of converting your term life insurance into a permanent life insurance policy be a specific date in the future.
Convertible term life insurance is coverage that can be converted into permanent life insurance regardless of an insured's physical condition and without a medical exam. The individual cannot be denied coverage or charged an additional premium for any health problems.
When you leave your employer, if you have a group term life policy at work, you may be able to convert your coverage into an individual permanent life insurance policy.
Also, if you own your own term life insurance policy, you may be able to choose convertible coverage, or a convertible term life insurance policy, which gives you the option of converting your term life insurance into a permanent life insurance policy be a specific date in the future.
Convertible term life insurance is coverage that can be converted into permanent life insurance regardless of an insured's physical condition and without a medical exam. The individual cannot be denied coverage or charged an additional premium for any health problems.
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