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.
Reduced paid up
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.
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.
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.
No, term life insurance has a term, hence the name.