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Converting To A Permanent Life Policy

Any Term life insurance policy we offer can be converted to a permanent policy from the same company. Here are a couple of the advantages:

  • No new application or physical exam is required. Your permanent policy's rates may be based on the same risk class as your term policy, plus your current age.
  • Your coverage becomes permanent. Your permanent policy will most likely be a Whole or Universal Life policy with coverage up to age 100.

But here are some of the disadvantages:

  • The conversion right has a time limit. It varies from policy to policy, but it can expire long before the 10-, 15-, 20-, or 30-year term on your existing policy. If this is something you're considering, contact a SelectQuote licensed agent right away.
  • Be prepared to pay more. Permanent policies typically have much higher premiums than term life policies during the initial level premium period.
  • Your conversion policy choices can be limited. Most insurance companies know that many people convert because of health problems, so they may not make their most price-competitive policies available for conversion.

A SelectQuote licensed agent will explain all your options and let you choose the best values available to you from the companies we represent.

To get a free quote now, click here or call 1-800-670-3213 Mon through Fri 6:00am to 6:00pm PST and Sat 7:00am to 4:00pm PST.

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