Converting your term life insurance policy to a permanent policy with no evidence of insurability is one of the best values your term life insurance policy has. It’s something a lot of policy owners don’t know about or have simply forgotton.
If you have a term life insurance policy and are considering converting to a permanent policy, your options aren’t just the company you currently hold your term insurance with now. Recently, life insurance companies are allowing conversions to permanent policies from other life insurance companies.
Companies such as Ohio National, Transamerica, MetLife and a few others are all accepting conversion applications from other companies. They don’t take conversions from every company out there though. Each company has different restrictions, but this is a great option for consumers that most don’t even know about. Heck, most agents out there don’t even know about these options.
If you are considering converting your term life insurance policy and would like to know if your policy eligible for conversion to other companies, please give us a call or fill out our life insurance quote request form. Our team at RootFin.com go over your objectives and find the best conversion option for you.