Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,898,200,291 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Convertible Term
(redirected from Convertible-Term)

    0.01 sec.
Convertible Term
A term life insurance policy that the policyholder may convert into a whole life insurance policy without a health exam. A whole life insurance policy carries more risk for the insurance company, especially if there is no health exam to help determine the premium. As a result, convertible term policies have higher premiums at the outset than other term life policies.

Convertible term. A convertible term life insurance policy can be converted into a permanent life policy at some point in the future without requiring you to pass a health screening exam.

A convertible term policy is generally more expensive than a regular term policy from the same insurance provider.

Like other term insurance policies, a convertible term policy remains in force for a specific period of time, or term, and can usually be renewed for an additional term, though the premiums typically increase with each renewal.



Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
No references found
 
Convertible-term assurance: This allows you to convert your term policy into an investment policy at a later date.
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.