Definitions for "Convertible Term Assurance"
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