If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program it may be time to look at a permanent, level cost solution.
Many of us purchase large amounts of low cost term insurance to cover our needs while we are raising our families or growing our businesses. However, as the saying goes, “there is no free lunch”. Eventually this low cost term insurance starts to become expensive and other options should be considered. If you are unable to qualify for a new permanent insurance policy don’t worry, your safety net is the conversion option in your existing policy.
4 REASONS TO CONVERT YOUR COVERAGE
WHEN’S THE BEST TIME TO CONVERT?
The Conversion Option contained in your term insurance policy is a very valuable feature that varies from company to company. It may be appropriate to schedule a review to determine if you have a permanent need for insurance.
Please feel free to use the sharing buttons below to forward this article to anyone you think may benefit from this information.
Statement of Commitment to Clients: My commitment to you is to act with the care and diligence of a reasonable and prudent person conducting his or her own financial affairs. Statement of Financial Advisor Role: We believe our best tool is the ability to ask questions. While financial problems may be complex, the solutions often are not. There is strength in simplicity for most clients.