Tamara purchased a term insurance policy when she had high life insurance needs and limited income.Now Tamara can afford whole life insurance.What term life insurance provision will permit Tamara to switch her term insurance to whole life insurance without having to show that she is still insurable?

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The conversion provision allows the policyowner to convert their term insurance policy to a whole life insurance policy without having to show proof of insurability. This is a valuable provision for individuals who may have purchased term insurance when they were younger and in good health, but now need permanent coverage as they get older and may have health issues. Renewal provision allows the policy to be renewed at the end of the term for another specified term, but does not provide permanent coverage. Tax-free exchange provision allows the policyowner to exchange one life insurance policy for another without incurring taxes on any gains, but does not necessarily guarantee insurability. Free look provision allows the policyowner a period of time to review and cancel the policy without penalty.

Tamara Purchased a Term Insurance Policy When She Had High