Q558
Which is correct?
A.
A convertible Term policy cannot be converted into a whole life policy
B.
A convertible policy can be converted into a money back cover also
C.
A Convertible Term policy can be converted into a whole life policy
AnswerD.
A converting term policy can be converted into a decreasing term policy
Answer: Option C
Solution
Answer: Option C
Solution:
A convertible policy can be converted into another type of insurance policy at the same insurance company. Typically, convertible insurance deals with a level-term insurance policy that can be converted into a permanent/cash value policy that may be some form of whole life or universal life.