Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Convertible Term Life Insurance

Convertible term life insurance policies allow you to change them over to a permanent policy at a designated time. Usually this can be done without additional underwriting, including a medical exam. This flexibility allows you to take advantage of the lower premiums that typically come along with a term plan until you decide you would like permanent coverage.

Understanding Term Life Insurance

Term life insurance provides coverage for a specific amount of time. A term can last as short as a year or as long as 30 years. If you die within the term of the policy, your beneficiaries will receive a death benefit that they can use to:

  • Make mortgage payments
  • Put towards a college fund
  • Pay for funeral expenses
  • Pay off debts
  • Among others

Ultimately, your beneficiaries can decide how they would like to use the death benefit payment.

Why Choose a Convertible Policy?

If you purchase a non-convertible policy and you outlive your policy, your beneficiaries won't receive a death benefit when you eventually pass away. Unless you purchased a "return of premiums" term policy — which reimburses some or all of your premium payments if you outlive your term — you won't get any money back.

Convertible term policies allow you to convert your term plan into a permanent form of life insurance, such as universal or whole life. This means you won’t have a lapse in coverage once your term expires, and your beneficiaries can receive peace of mind that your coverage will stay in place until you die.

Keep in mind that most insurers require you to convert your term life plan to a permanent plan before you reach a certain age. 

Learn More

A licensed agent can help you learn more about your options and match you with a life insurance policy that makes sense for you. Speak with a licensed agent at 1-800-966-7169, or read through the following guides to learn more.

*Applications for insurance may be subject to acceptance by insurer. Rates and coverage amounts will depend upon the carrier selected.

Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Related Information

Affordable Life Insurance

Term life insurance is generally more affordable than permanent life insurance. Here's what you need to know about term life insurance policies and how they work.

Read More

Finding the Right Life Insurance for Seniors

Term life insurance and permanent life insurance are both options for seniors, though some life insurance companies may have age restrictions on their policies.

Read More

Term Vs. Whole Life Insurance

Whole life insurance is permanent, meaning it remains in effect for as long as you pay the premiums. Term life insurance expires, but is more affordable.

Read More

Which is Better: Term Life Insurance or Permanent Life Insurance?

What’s the difference between term and permanent life insurance, and which is right for you? Read on to find out.

Read More

Level Term Life Insurance Explained

Level term life insurance policies have predictable and level premiums. Learn more about how you can help protect your family's financial future.

Read More

The Best Definition | What Is Term Life Insurance?

Term life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the policy.

Read More

Checking Out Life Insurance Policies? Here are Your Options

To understand which life insurance policies might be right for you, let's look a little closer at term and permanent life insurance.

Read More

Term Life Insurance

Find and compare term life insurance quotes with the help of a licensed agent.

Read More

Comparing Term and Whole Life Insurance? Here’s What to Know.

Term and whole life insurance are two of the most popular kinds of life insurance policies. Read on to learn how they work.

Read More