The feature that allows an insured to swap a term policy in the future for a whole life policy is designated:
A)Convertible term
B)Swap term
C)Flexible swap
D)Convertible swap
E)None of the above

Question

Quizplus · Accepted Answer

The feature described is known as a convertible term policy, as it allows the insured to convert or swap their term policy for a whole life policy in the future. The other options (B, C, D) are not commonly used industry terms for this feature.

The Feature That Allows an Insured to Swap a Term