Frank keating has a life insurance policy that can be exchanged for a whole life policy without a medical examination. once it has been exchanged, the premiums will increase. what type of term life insurance does frank likely have?

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24-06-2017
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Frank keating has a life insurance policy that can be exchanged for a whole life policy without a medical examination. once it has been exchanged, the premiums will increase. what type of term life insurance does frank likely have?

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taskmasters taskmasters · Answer 1 · 2017-07-07T09:09:47+02:00

The answer to this question is Convertible Term Insurance. Convertible Term Insurance is a type of insurance where in the policy holder can change a term policy for a whole policy without doing the medical examination that is required to new application of plans. Term insurances is an insurance that has a limited coverage period but it can be renewed and can be convertible to permanent life insurance when the plan is already matured.