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Answered 2007-09-09 15:30:46

A term policy that can be converted to a whole life (or other) policy.

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State Farm does not provide convertible term insurance. They provide standard term life insurance.


No, generally speaking, no term life insurance policies have cash value.


A convertible term insurance policy works by allowing you to amend the coverage period in return for a change in the premium payable. This is highly useful to businesses with ever changing amounts of stock or who wish to add new premises to their insurance policies


Convertible term life is insurance that was written for a specific length of time, for instance 10 years. After that time the policy would be null and void and more would have to be taken out or the policy cancelled. The convertible comes in when that same term life is switched over to whole life that one can have forever or until it matures or one stops paying the premium.



Escape with a sun roof. Then you get a convertible & pay no more insurance.


Synonyms for the adjective convertible are exchangeable, adjustable, or swappable.A synonym for the noun convertible (car) is cabriolet. A slang term is ragtop,


Renewable term allows you to renew at the end of the term. Regular term insurance does not guarantee you that right.


Yes. Term insurance is like renting insurance.


Prudential Life Insurance offers several different type of life insurance, including term life insurance. They offer complete term insurance or supplemental term insurance that can be added on top of any other insurance you may have.


Term insurance is insurance that does not grow in money. If you have a policy of $10,000 for 20 years, it will be worth $10,000 for the entire term of the insurance.


Term insurance does not build any cash value until it is converted into a type of permanent product that does - whole life, indexed universal life, current assumption, variable universal life.


No, term life insurance has a term, hence the name.


Short term investments such as company stocks, shares, currencies, and gold are short term investments that are easily convertible into cash if one makes a profit.


One can get long term health insurance in the United States from LTC Insurance and AARP Medical Insurance. One can also get long term insurance from Long Term Care and Kaiser Permanente.


Term insurance is an insurance you get for a specific amount of time. It is only for a certain amount of time. For instance, term insurance can be an insurance coverage for 6 months, 2 years, or 5 weeks.


Most insurance company provide term life insurance in five year increments.


The advantage of short term insurance is that it is, like the name states, short term. You are free to switch insurance companies frequently instead. Short term insurance can also be cheaper.one


Allstate insurance offers term life insurance with no exams.


Ameriprise is an insurance company a few of it's insurance offers include long term care insurance as well they also offer short term care insurance and term insurance for their patrons.


Term life insurance protects you for the term of the policy. You are not required to renew each term.


Term life insurance is a form of temporary life insurance that provides coverage for a specific number of years. Term life insurance is available for 1-40 years, depending on your health and age. Term life insurance is usually purchased for 1, 15, 20 or 30 years. Term life insurance builds no cash value within the policy. Term life insurance is "Pure Protection". You pay only for the life insurance. If you outlive your policy term, the coverage expires. Level term life insurance is the most common form of term life insurance. Level term offers premiums and coverage amount that remain the same each year for the entire term of your policy.


A renewable term insurance gives you the option of renewing or starting your term life insurance period over again without proving that you are in good health. This usually means that the term will automatically renew for another term so long as you pay the premium. The premiums may go up, and there are age maximums assigned to renewable term insurance. There is a description of renewable term insurance and other types of insurance at the Insurance Information Institute.


No, term insurance is not the most expensive type of life insurance. Usually, term insurance is the most affordable type of life insurance. Term life insurance usually costs 2-3 times less than permanent life insurance. Why? because term life is temporary coverage, usually for 1-30 years, and it builds no cash value inside the policy. See for yourself: Free term life insurance quotes at QualityTermLife's website.


A term life insurance is during the insurer's life only. When he or she is gone, then the insurance ends. The whole life insurance on the other hand has what the term life insurance covers plus more.



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