convertible term insurance

Definition

An insurance policy in which the insurer is required to renew the policy for a specified amount of time regardless of changes to the health of the insured. The agreement requires that premiums are paid on time and that the insurer makes no changes except if a premium change is made for an entire class of policyholders. also called guaranteed renewable or conversion privilege or guaranteed insurability.

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You may want to try and get some convertible term insurance so that you know you have some coverage over your head.

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A situation where the insurer is to renew a policy for a certain period of time regardless of any health changes to the health of the insured is known as CONVERTIBLE TERM INSURANCE

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convertible subordinate note convex