Frank Keating has a life insurance policy that can be exchanged for a whole life policy without a medical examination.Once it has been exchanged,the premiums will increase.What type of term life insurance does Frank likely have?

Question

Quizplus · Accepted Answer

Convertible term life insurance allows policyholders to convert their term policy into a whole life or permanent insurance policy without a medical examination, which matches the scenario described. The premiums typically increase upon conversion to reflect the new policy's permanent coverage.

Frank Keating Has a Life Insurance Policy That Can Be