What is a typical feature of a convertible term life insurance policy?

A convertible term life insurance policy is designed specifically to provide the option to convert the policy to a permanent form of life insurance, such as whole life or universal life insurance, without the need for proof of insurability. This feature is particularly advantageous for policyholders as it allows them to obtain long-term coverage even if their health situation changes over time. This flexibility can be very important since the policyholder's circumstances or health may make it more difficult or expensive to secure new insurance as they age.

The conversion provision is a key selling point of such policies, as it ensures that the policyholder can transition to a more permanent insurance solution while retaining the time-sensitive benefits of their initial term policy. This is unlike other options that may lack such a feature, which can impose restrictions or require additional underwriting if the policyholder wishes to secure permanent coverage later on.