Term Conversion Rider

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Term Conversion Rider Also known as a "convertible" allows you to convert a term life policy into a permanent (whole) life insurance without additional evidence of insurability; medical exam. A rider is an insurance policy provision that adds benefits to or amends the terms of a basic insurance policy to provide additional coverage. Regarding the Cost of Converting there are no fees to convert a term policy to a permanent policy. However, the rate you pay for coverage your premium will increase. How much it increases depends on several factors. Remember your health will not be a factor because you lock in your original underwriting class, your age when you convert will affect your rate. The older you are, the higher your premium will be. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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