Benefits Lesson

Accidental Death

What if you want the coverage to last your whole life instead of just a part of it? Does that mean you have to go back to square one and get a new policy? Not necessarily. Term life insurance policies typically offer an option to convert them into permanent life insurance policies. Making the switch is easy, but deciding whether or not it's the right move is not always that simple.

Lesson Script

What This Video Covers

What if you want the coverage to last your whole life instead of just a part of it? Does that mean you have to go back to square one and get a new policy? Not necessarily. Term life insurance policies typically offer an option to convert them into permanent life insurance policies. Making the switch is easy, but deciding whether or not it's the right move is not always that simple.
Insurance Terms to Know

Extended Reporting Period

An extended reporting period allows claims to be reported after a claims-made policy ends for acts that occurred before expiration and after any retroactive date.