Term Insurance with Conversion Option
What is Term Insurance with conversion option?
It is life insurance that provides you with the protection you are looking for, without the benefit of the cash accumulation that a permanent plan provides.
However, this insurance gives you the option of retaining your insurability by having the opportunity to convert your policy to permanent insurance with cash accumulation at a later date.
Why choose Term Insurance with a CPR of PR agent?
Some of the benefits of this type of Insurance are:
Other benefits are as follows:
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You choose the face amount of the policy and the length of the term that covers your insurance needs.
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Guaranteed term insurance offers 10, 15, 20 and 30 year terms.
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It allows you to keep your insurability to convert it to permanent insurance at a later date, if you wish to do so.
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Our agents will listen to you and help you choose the best option for you and your family. In addition, we have a support team that will help make the process a smooth and efficient one.
Is this the right Insurance for me?
If you find that you need insurance but for a specific term, this insurance is for you.
You also have the option to convert this benefit into a permanent protection benefit or have the opportunity to generate cash value.
The term policy can be converted to any individual permanent life insurance policy. The converted policy will use the same underwriting basis and will be issued at an equivalent rate class.
Did you know?
If you decide to convert the policy to a permanent policy, the policy will use the same underwriting basis and will be issued at an equivalent rate class. It is good to keep the following in mind if you decide to do so:
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The conversion option will expire on the policy anniversary at the end of the level premium term period or on the policy anniversary after the insured reaches age 65, whichever occurs first. However, the conversion period will never be less than 5 years.
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You may qualify for a credit conversion for the new policy.
