A few years ago you purchased your term life insurance policy. You pay a
very inexpensive premium.
You have enjoyed the security that this policy afforded you over the years.
You have recently discovered that a hereditary disease will likely rear its ugly head.
Even though your youngest is close to graduation you will still need your life insurance policy as you want to protect your mate in case you should die suddenly.
You could try to buy some more term life insurance that would give you a
few more years of protection. The problem is that you may not be able
to get it because of your recently discovered health problem.
If the company approves a policy you will have to pay considerable more for it. There is only one solution. If your original policy is still within the conversion period allowed by the contract you may want to convert your term policy to a permanent policy.
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Here are your options:
In either case all you need to do to convert your policy is to get an agent to give you a conversion form, which you complete and you get your policy in a couple of weeks.
Term life insurance is life insurance in it's simplest form. These policies stay in force for a specific number of years, for example, 5 years 10 years etc.
Whole life insurance is the plan of choice for many people. There are many variations to this plan.
Universal life insurance was designed with the express intention of combatting the venerable whole life insurance policy.
Are you looking for quality term insurance quotes? Have you determined how much you need? Do you know what type of term insurance is best for you?
In many cases it is a good idea to buy term insurance online. Some people know just how much life insurance they want to buy before they get online.