Learn How to Convert Term Life Insurance to Permanent Life Insurance
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 converting to a permanent life insurance policy?
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Benefits of Converting Term Life to Permanent Life
- Permanent life insurance, such as whole life, offers premiums that remain the same and provides your loved ones with protection throughout your lifetime.
- Depending on the product you choose, a permanent life insurance plan can build cash value, which can be withdrawn or borrowed during your lifetime.
- You can choose a policy with premiums that are payable for the life of the policy or paid-up after a set period of time.
- You have the option of converting your term life insurance to permanent life insurance, regardless of your health or occupation, at any time prior to age 70, age 60 for Life Term to 65 (subject to established minimums).
Speak to your agent on the differences between term and permanent life insurance.
Don't miss this opportunity. Contact your State Farm® agent today to discuss why converting term to permanent life insurance might be your best option.