Definitions for "Convertible Term"
Life assurance which pays out if you die within the period of protection, but gives you the option to convert to an endowment or whole-of-life policy.   back
A type of term insurance that includes a conversion provision, i.e., is eligible for conversion to a permanent certificate.
Term insurance which can be exchanged (converted), at the option of the policyowner and without evidence of insurability, for a permanent insurance policy.