Sentences with convertible term insurance
con·vert·i·ble term in·sur·ance
C c - Once the term of a convertible term insurance has expired, the policyholder has the choice to convert the plan to a different type of contract which can be a further term plan, an endowment, or a whole of life contract.A convertible term insurance can be converted to a permanent or whole life policy without evidence of insurability, subject to time limitations.A convertible term insurance is a life insurance policy which pays out if the policyholder dies within a specified period of time, but also allows them to convert to another type of plan.