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Questions about term life insurance
- Is the coverage renewable and if so, what is the maximum guaranteed renewability period?
- What are the renewal rates, how soon will the policy premiums increase and how much will the increase be?
- After the initial premium period is over, how often will renewal premiums increase?
- If the policy is "convertible":
- What named policy is it convertible to?
- Does the company currently offer a conversion policy?
- Can you convert immediately if you needed to?
- When will the policy no longer be convertible?
- Does the company publish the premiums for its conversion policy?
- Does the company offer a range of choice for conversion?
- Is the "conversion" policy much higher priced?
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