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You realize the importance of life insurance and the value of the financial protection it provides. When you purchased your term life insurance policy, you took the important step of providing protection for your loved ones for a specified period of time.
However, have you considered the benefits of a permanent life insurance policy?
Benefits of Converting Your Term Life to a Permanent Life Policy
- Permanent life insurance, such as whole life, offers premiums that remain the same and provides your loved ones with protection throughout your lifetime.
- A permanent life insurance plan builds cash value, which can be withdrawn or borrowed during your lifetime.
- If you convert qualifying term life insurance to a permanent life or universal life insurance policy, the new policy's first year premium will be reduced. The amount of reduction is based on the premiums you have paid on your existing term coverage during the 12 months prior to the conversion. This offer is only available during the first five years of your term life insurance coverage.
- You may convert your term life insurance to permanent life insurance regardless of your health or occupation, at any time prior to age 75 (subject to established minimums).
View more detailed information on the differences between Term and Permanent Life Insurance.
Don't miss this opportunity. Contact your State Farm agent today to discuss why permanent life insurance might be your best option.
Insurance policies and/or associated riders or features may not be available in all provinces, and policy terms and conditions vary by province.
This is a general description of coverage. A complete statement of coverage is found only in the policy.
For more details on coverage, costs, restrictions, and renewability; or to apply for coverage, contact your local State Farm agent.
State Farm agents do not provide tax, legal, or investment advice. Please consult your tax, legal, or investment advisor regarding your specific circumstances.
Coverage will expire when either no premiums are paid following the initial premium or subsequent premiums are insufficient to continue coverage.
Dividends are a return of premium and are based on the actual mortality, expense, and investment experience of the Company.
Dividends are not guaranteed.
State Farm International Life Insurance Company Ltd.
Aurora, Ontario. Licensed in Alberta, New Brunswick and Ontario.