Skip to Search

Skip to Content

AIG Direct
Call Now
  • REQUEST A QUOTE
  • LIFE INSURANCE PRODUCTS
    • Term Life Insurance
    • Quality of Life
    • Permanent Life Insurance
    • Universal Life Insurance
    • Whole Life Insurance
    • Guaranteed Issue Whole Life Insurance
    • Accidental Death Insurance
  • LIFE INSURANCE BASICS
    • Life Insurance
    • What is Life Insurance
    • How Does Life Insurance Work
    • Choosing a Life Insurance Policy
    • Which Type of Life Insurance Policy Do I Need
    • What to Expect When You Apply for Life Insurance
    • Life Insurance Medical Exam
    • Managing Your Life Insurance Policy
    • Term Life Insurance Calculator
    • Life Insurance Terminology
  • ABOUT LIFE
    • Why Life Insurance
    • Planning for Life Insurance
    • Applying for Life Insurance
    • Managing Your Policy
  • SCHOLARSHIP PROGRAM
  • ABOUT US
    • About Us
    • Customer Reviews
    • Why AIG Direct
    • Our History
    • Executive Team
    • Contact Us
    • Careers
AIG Direct
Quote Hotline

800-294-4544

Quote Hotline 800-294-4544

  • LIFE INSURANCE PRODUCTS
    • Term Life Insurance
    • Quality of Life
    • Permanent Life Insurance
    • Universal Life Insurance
    • Whole Life Insurance
    • Guaranteed Issue Whole Life Insurance
    • Accidental Death Insurance
  • LIFE INSURANCE BASICS
    • Life Insurance
    • What is Life Insurance
    • How Does Life Insurance Work
    • Choosing a Life Insurance Policy
    • Which Type of Life Insurance Policy Do I Need
    • What to Expect When You Apply for Life Insurance
    • Life Insurance Medical Exam
    • Managing Your Life Insurance Policy
    • Term Life Insurance Calculator
    • Life Insurance Terminology
  • ABOUT LIFE
    • Why Life Insurance
    • Planning for Life Insurance
    • Applying for Life Insurance
    • Managing Your Policy
  • SCHOLARSHIP PROGRAM
    • About Us
    • Customer Reviews
    • Why AIG Direct
    • Our History
    • Executive Team
    • Contact Us
    • Careers
  1. Home
  2. About Life
  3. Managing Your Policy
  4. Convertible Term Life Insurance

Convertible Term Life Insurance

Converting Term Life to Whole Life - Convertible term life insurance allows you to convert a temporary (term) policy into a permanent one.

  • Twitter
  • Facebook
  • LinkedIn

People typically buy term life insurance because it's affordable, practical, and easy. You simply buy term life insurance for one low price for a specified length of time, also called a term. But what if your needs change, your term policy is set to expire, or you decide you want permanent insurance?

Fortunately, term life insurance provides for the best of all worlds. You can buy term life insurance now and then convert it to permanent insurance later.

Sometimes called going from "term to perm," converting your term life insurance to a type of permanent insurance is easy. It doesn't typically require a medical exam and term life insurance offers the conversion option, even if your health has declined.

Term life insurance policies provide coverage during the years you need it most, typically between 10 to 30 years.

Once you reach the end of your "term," your policy expires and you typically have three options: renew your policy, convert your term life insurance policy into a permanent policy, or discontinue coverage.

There are unique advantages to buying a term life policy that can later be converted to a permanent life insurance policy, such as Whole Life Insurance or Universal Life Insurance.

Here are Four Reasons to Convert Your Term Life Insurance Policy

1. You don't have to repeat a life insurance medical exam.

Life insurance medical exams are a prerequisite for many types of life insurance, including term life insurance and some whole life insurance. Convertible term life insurance allows you to transition from a term life policy to a permanent policy, without repeating a medical exam. That's ideal for those who may have experienced health changes or don't have the time to schedule an exam.

2. It's designed to meet your needs today — and tomorrow.

Maybe you've just had a baby or your family is still growing. You need a budget-friendly option for coverage — and term life insurance fits the bill. Once your children are financially independent or your paycheck increases over time, you may reevaluate your life insurance needs and discover that a whole life policy better suits you — and is now within reach.

3. You have the option to convert to lifelong coverage.

Term life policies have an expiration date. By converting your term life policy to a permanent (Whole Life or Universal Life) policy, you'd go from having coverage with an end date to having coverage for up to a lifetime. There are two things, however, to be mindful of when converting your term life policy to a permanent one. The premium increases and there's typically a window of time during which you can convert. Some convertible term life insurance policies may also have a maximum age limit for conversion. Make sure to read the fine print carefully and ask questions if you have them.

4. You have a financial nest egg for your family's future.

Unlike term life insurance, whole life insurance builds "cash value," which grows with each monthly payment. Left alone, that money can become like a nest egg for your family's future. It can be used toward anything you'd like, such as supporting a child or grandchild's future education or supplementing a retirement fund.



By converting your term life policy into a whole life policy, you'll have a lifetime of coverage that can help to financially protect your loved ones. And you'll also have the ability to watch your policy grow in cash value — making your family's financial future even brighter.

Questions? Call 800-294-4544 to speak with one of our licensed life insurance agents.

Term Life Insurance Conversion - Get Started Today!

Related Life Insurance Articles

Converting Your Term Life Insurance to a Permanent Policy

October 2016

Read full article...

Why is Life Insurance Important?

October 2016

Read full article...

How Much Life Insurance Do I Need?

September 2016

Read full article...

QUOTE HOTLINE
800-294-4977
LIFE INSURANCE PRODUCTS
  • Term Life Insurance
  • Quality of Life
  • Permanent Life Insurance
  • Universal Life Insurance
  • Whole Life Insurance
  • Guaranteed Issue Whole Life Insurance
  • Accidental Death Insurance
LIFE INSURANCE BASICS
  • Life Insurance
  • What is Life Insurance
  • How Does Life Insurance Work
  • Choosing a Life Insurance Policy
  • What to Expect When You Apply
  • Medical Exam Preparations
  • Managing Your Life Insurance Policy
  • Term Life Insurance Calculator
  • About Life Insurance Blog
ABOUT AIG DIRECT
  • Customer Reviews
  • Scholarship Program
  • About AIG Direct
  • Our History
  • Contact Us
  • Careers
  • Site Map
  • AIG Direct Facebook
  • AIG Direct Twitter
  • AIG Direct LinkedIn
  • AIG Direct YouTube
  • AIG Direct Instagram
  • LIFE INSURANCE PRODUCTS
    • Term Life Insurance
    • Quality of Life
    • Permanent Life Insurance
    • Universal Life Insurance
    • Whole Life Insurance
    • Guaranteed Issue Whole Life Insurance
    • Accidental Death Insurance
  • LIFE INSURANCE BASICS
    • Life Insurance
    • What is Life Insurance
    • How Does Life Insurance Work
    • Choosing a Life Insurance Policy
    • What to Expect When You Apply
    • Medical Exam Preparations
    • Managing Your Life Insurance Policy
    • Term Life Insurance Calculator
    • About Life Insurance Blog
  • ABOUT AIG DIRECT
    • Customer Reviews
    • Scholarship Program
    • About AIG Direct
    • Our History
    • Contact Us
    • Careers
    • Site Map
  • AIG Direct Facebook
  • AIG Direct Twitter
  • AIG Direct LinkedIn
  • AIG Direct YouTube
  • AIG Direct Instagram
  • Privacy Policy
  • Terms and Conditions
  • Legal Information
  • Advertising Disclosures
  • About Our Ads
  • Accessibility Statement
  • New York COVID-19 Notice
  • Privacy Policy
  • Terms and Conditions
  • Legal Information
  • Advertising Disclosures
  • About Our Ads
  • Accessibility Statement
  • New York COVID-19 Notice

© 2021 AIG Direct Insurance Services, Inc. Agency services provided by AIG Direct Insurance Services, Inc. ("AIG Direct"), CA license # 0B57619 and AR license # 0100105378, a subsidiary of American General Life Insurance Company ("AGL"), Houston, TX and an affiliate of The United States Life Insurance Company in the City of New York ("US Life"), New York, NY, all members of American International Group ("AIG"). Each issuing insurance company is responsible for financial obligations of their respective insurance. Guarantees are backed by the claims-paying ability of the issuing insurance company. Products may not be available in all states and product features may vary by state. For all companies mentioned, their financial professionals and other representatives are not authorized to give legal, tax or accounting advice. For advice concerning your individual circumstances, consult a professional attorney, tax advisor or accountant.

pixel tracker

pixel tracker