Convertible Term Life Insurance
With convertible term life insurance you have the option to convert in the future to another type of life insurance such as a "whole of life" or endowment policy without having to submit any further medical evidence.
Conversion Option
This conversion option allows you to adapt your plan if your
circumstances change. You can convert (usually within certain
limits) part or all of your life insurance cover at any time during
the term. And, importantly, you won't be asked any health questions
at the date of conversion.
If the level of cover you selected at the start remains the same,
then the premiums will too. If you survive the policy term without
any conversion of the plan there will be no pay out. As this type
of policy only provides cover in the event of death (plus the
option to convert) there is no surrender value. So if you stop
paying the premiums at any time, your cover would cease immediately
and you would not receive any money back.
Independent Advice
For more information on convertible term life insurance or for more tailored life insurance advice specific to your circumstances please use our free call back service provided by one of our partner firms.
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