Term Life Insurance Conversion


Term Life Insurance Conversion
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Is your term life insurance coverage coming to an end? Have you had a serious change in your health that may disqualify you from purchasing new life insurance coverage?

Don’t stress out just yet, your life insurance policy may have a special feature called term life insurance conversion.

A term life insurance conversion is a policy feature that allows the insured to convert their original term life insurance policy to permanent life insurance such as universal life or even whole life insurance.

Term life insurance conversion is a no health questions asked guaranteed approval, regardless of your past or present health status.

What Would Trigger a Life Insurance Conversion?

There are a few reasons that would trigger the need to convert your existing life insurance to permanent life insurance coverage. Typically, the main reason for a life insurance conversion is a significant change in your health.

EXAMPLE: Your 10-year term life insurance policy is coming to an end. During the 9th year of the level premium period of your term life insurance policy, you suffered from a stroke. In most cases, qualifying for new term life insurance coverage will not be an option due to your high risk to the life insurance company.

The option to exercise a term life insurance conversion is not always triggered by a decline in health. Another common trigger is the need for permanent life insurance coverage rather than term insurance. As life changes, so do the need for larger amounts of life insurance coverage.

A term life insurance conversion is a great way to transition from a term life insurance to a permanent life insurance policy. By exercising your option for a term life insurance, you can reduce your policy’s death benefit as well as avoid any lengthy underwriting times.

When Should You Consider a Term Life Insurance Conversion?

Just like any type of life insurance coverage, the premium goes up the longer you wait. If your health or life insurance needs have changed it is best to review your conversion options.

Term life insurance conversion will cost more than traditional medical underwriting. You can save more money by converting when policy needs have changed rather than waiting at the very end of your term life insurance policy.

Are all Term Life Insurance Conversions the Same?

The one common factor of term life insurance conversion is that it is the changing of your life insurance from term to permanent life insurance coverage. Life insurance conversion requires no evidence of insurability and guaranteed regardless or past or present health.

Every life insurance company, however, will have their own set of eligibility rules and type policies that you may convert to. Some life insurance companies have specifically designed conversion policies while others allow you to convert to their regular permanent life insurance policies.

An Alternative to a Term Life Insurance Conversion

If your term life insurance coverage is coming to an end and the need for permanent life insurance coverage is not required, you should be able to continue paying as an annual renewable term life insurance policy.

Your premium after the end of the initial term length will be a significantly higher than what you had been paying prior to level premium years expiring and the rate will continue to increase each year.

A second option to consider is renewing your term life insurance coverage through medical underwriting. All life insurance companies underwrite high-risk health conditions differently.

If you have a high-risk health condition and need help finding affordable coverage or even help to convert your existing life insurance coverage please reach out to us. 

Simply contact us below with details to your coverage needs as well as information regarding any past or current health conditions.

How do you Convert Your Life Insurance Policy?

Top Quote Life Insurance can help assist you with your term life insurance conversion. As an independent life insurance agency, we work with a wide variety of life insurance companies to make the conversion process a breeze, even if we are not the original agent for your current life insurance policy.

If you would like Top Quote Life Insurance to help assist you with your life insurance conversion or would like to know what kind of life insurance conversion privilege you have on your existing policy, here is what we need to get started:

Policy Details

The first step in the conversion process is collecting the basic policy information on your current life insurance policy. The easiest way to do this is for you to sign a letter allowing the life insurance company to send us a policy summary on your coverage. The policy summary will provide us with the basic details of your policy, such as the policy date, death benefit amount, premium, etc.

Product & Illustration

Once we have received the details on your current life insurance policy, the next step will be for us to review the conversion products offered by the life insurance company. Once we have narrowed down the conversion product, we will put together an illustration outlining the details and cost of the life insurance conversion coverage, as well as make any final changes if needed.


After we have narrowed down the life insurance product and finalized the illustration, the next step will be to complete the life insurance conversion application. The conversion application, for most life insurance companies, is generally one page long, it is quick and simple.


In most cases, after we have submitted the application to the life insurance company, it should take no longer than 8-10 days before the conversion policy is issued and approved.

Top Quote Life Insurance makes the life insurance conversion process simple and easy. If you would like for us to help assist you, feel free to call us toll-free at (888) 777-7574 or contact us below with details of your conversion request and we will get started right away.

Jeffrey Manola

Jeffrey Manola

Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance.

Not only does he strive to provide you with the best rates for your life insurance coverage, but he also wants you to be well informed about the different types of life insurance options that are available. You will also find a significant amount of valuable information on the multiple life insurance companies that can provide you with coverage.

Jeffrey Manola is licensed to provide expert advice and help aid in the purchasing process of life insurance products. He is licensed with the National Insurance Producer Registry (NIPR) in the following states:

AL: 790866 AR: 14358927 AZ: 14358927 CA: 0K29801 CO: 531038 CT: 002536246 DC: 3000281706 DE: 3000190912 FL: W383615 GA: 3089339 HI: 482421 IA: 14358927 ID: 646048 IL: 14358927 IN: 3100885 KS: 14358927 KY: DOI-986908 LA: 758187 MA: 2045330 MD: 3000011601 ME: PRN252004 MI: 14358927 MN: 40427014 MO: 8428106 MS: 10519253 NC: 14358927 ND: 14358927 NE: 14358927 NH: 2434852 NJ: 1562332 NM: 14358927 NV: 3299018 NY: LB-1484031 OH: 1117369 OK: 100293583 OR: 14358927 PA: 740709 RI: 3000183893 SC: 14358927 TN: 2383399 TX: 1969337 UT: 648983 VA: 987464 VT: 3426230 WA: 947010 WI: 14358927 WV: 14358927

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency. We want to help you save money, protect your future, and earn your trust (888) 777-7574.

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Life Insurance Rates?

Purchasing Life Insurance has never been easier

Or give us a call...888-777-7574