Let’s look at some life insurance quotes for a 35 year old male in excellent health.  You are probably going to want at least 20 years of guaranteed coverage, which would cost you at least $435 per year.  Now let’s compare that to a universal life insurance policy with a lifetime guarantee.  This universal life insurance policy would cost you at least $3,970 per year.  This is how most people end up term insurance.  When they see the price of term compared to permanent lifetime coverage, it’s difficult not to buy term.

The good thing about most term policies, is that it allows you to do a life insurance conversion to a permanent product like a universal life insurance policy or a whole life insurance policy.  A life insurance conversion requires no medical exam and no underwriting whatsover.  You are guaranteed to be approved at the same health class that you were approved at on your term insurance policy.

So let’s say you bought a 20 yr term when you were 35 and now your are 54 and your policy is about to expire.  You want to take out another 20 yr term, but you can’t because you are uninsurable due to health reasons.  This is one example where you would want to do a life insurance conversion to a permanent policy like a universal life or whole life policy.  If you are interested in getting a quote on a life insurance conversion, please call us at 1-888-950-TERM (8376).