If life insurance is convertible,the policy can be
A)transferred to the life of another person.
B)exchanged for cash.
C)changed to health or disability protection
D)changed to another type of life insurance.
E)revised as needed.

Question

Quizplus · Accepted Answer

If a life insurance policy is convertible, it means that the policyholder has the option to convert the policy into another type of life insurance policy. For example, a term life insurance policy can be converted to a permanent life insurance policy without undergoing a medical exam or proving insurability. This can be helpful for policyholders who may want to extend their coverage but are no longer eligible for a new policy due to age, health, or other reasons.

If Life Insurance Is Convertible,the Policy Can Be