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Convertible Term

Convertible Term is a feature in some term life insurance policies that allows the policyholder to convert their term coverage into a permanent policy, like whole life or universal life, without needing a new medical exam. This can be a great option if you want lifelong coverage but only need term insurance initially.

Converting to a permanent policy means you’ll have higher premiums, but you’ll also gain features like cash value accumulation and lifetime coverage. It’s a flexible option that adapts to changing financial goals and needs.