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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?