Sentences with phrase «convert to a permanent policy extends»

Also, the time you have to convert to a permanent policy extends to fifteen years (seven in the ten - year policy).

Not exact matches

Convertible term life insurance allows you to extend the life of your policy by converting it to a permanent life policy.

Policyholders can then choose to extend coverage after a term ends by either purchasing a new policy or converting a qualified term insurance policy to a permanent one.

Even though term insurance is not permanent coverage, you can usually get policies that will run for as long as 20 or 30 years, and may also contain automatic renewal provisions that will allow the term to be extended, or for the policy to be converted to permanent insurance at a later date.

However, depending on your age, health status, and time left in the term, you may be able to extend the coverage or convert the policy to a permanent policy.

This allowed the policyholder to extend coverage, in many ways like converting a term policy over into a permanent policy.

Policyholders can then choose to extend coverage after a term ends by either purchasing a new policy or converting a qualified term insurance policy to a permanent one.

Convertible term life insurance allows you to extend the life of your policy by converting it to a permanent life policy.

The term has to be renewed if you want coverage to be extended beyond the term length or you can convert your term policy into a permanent policy.

Even though term insurance is not permanent coverage, you can usually get policies that will run for as long as 20 or 30 years, and may also contain automatic renewal provisions that will allow the term to be extended, or for the policy to be converted to permanent insurance at a later date.