What Does Convertible Term Life Insurance Mean?

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What does Convertible Term Life Insurance mean? Read on to discover the definition & meaning of the term Convertible Term Life Insurance - to help you better understand the language used in insurance policies.

Convertible Term Life Insurance

Convertible Term Life Insurance

Convertible term life insurance is a policy that provides the insurer with the option of converting a term policy to a permanent one at the conclusion of the term without any penalties or having to undergo a medical exam. This feature is also called a conversion privilege, guaranteed renewable, or guaranteed insurability.

We hope the you have a better understanding of the meaning of Convertible Term Life Insurance.

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