This life insurance policy types enables the policy holder to convert a term life insurance policy into a whole or permanent life insurance policy after a few years of premium payment, with no need for any further health checks.
Convertible term assurance is a term life policy that has the option of converting to a whole life policy at some point in the future.
This is really a term assurance policy with the option to convert the policy to another type of contract at a later date, such as a whole of life plan or endowment
Life assurance for a fixed term usually on a level basis. At the end of the term the assured has the option of either taking out a whole of life assurance policy or an endowment for the same sum assured without the need for further evidence of health. The premium will be a little higher than ordinary term assurance to cover the additional risk.
a term assurance plan which gives the owner the option to convert the policy to a Whole of Life contract or Endowment, without the need for medical checks.
term insurance policy which gives you the option to convert your current policy to a whole-life or endowment insurance policy, without having to take further medical examinations.
