The biggest incentive to convert your term policy to whole life happens if you think that your health has declined enough so that you can not purchase additional term insurance after your policy expires. (lifeant.com)
If you already taken term insurance plan, but looking for additional term insurance coverage, you can consider such plans. (myinvestmentideas.com)
For instance, if you feel that your child's future education or marriage will cost around 20 lakhs, consider taking the same amount as additional term insurance. (policybazaar.com)