Making a conversion of your term life insurance policy

Making a conversion of your term life insurance policy

By looking at the name, this kind of insurance policy come to an end after a term or a specific period of time. This is usually between 5 and 30 years for many firms offering this service. Once the policy has expired, one may opt to continue and renew the policy to carry on with the coverage. When making a conversion, the policy will have to be written with a clause known as a rider and this one will give the option of converting it to become a whole term life policy. For this to go through, there are a number of processes that will take place. This will include: Inclusion of the conversion in the policy Before it goes through, one will need to have option of the conversion…
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