Term conversion
Right to switch term life to permanent coverage without new medical exam, if exercised in time.
Plain definition
Term conversion lets you change all or part of a term policy to permanent insurance during a conversion window, using attained age rates and product rules without full underwriting. Deadlines and eligible products are spelled out in the original term contract.
Why it matters
Health declines that would block new coverage make conversion valuable—even if permanent premium is higher than a fresh term quote would have been at age 30.
Example
At 48 you develop a condition. You convert $250,000 of your expiring 20-year term to whole life before the conversion expiry date in the policy.
Common misunderstanding
Conversion is not automatic—you must elect it, pay new premiums, and choose from allowed permanent products.
Policy language always controls. This is educational content, not advice. See our disclaimer.