Convertible Term Life Insurance?

Pinyo makes a good point that there may not be a significant price difference, but the atual need for the option of converting would be based on your basis for needing life insurance in general.

For my situation, the basis for life insurance is to simply cover expenses such as college for my sons and the mortgage on our home in the event that I, the bread winner of the house, were not there to provide an income.

Once those needs are removed, my need for life insurance greatly dimishes. So, over the next 30 years our home will be paid for, our sons "should" be out of school & on their own, able to provide for themselves. On top of that, our other finances should be able to provide my widowed wife, who would have a paid for house and no kids at home, enough to live comfortably.

Therefore my need for converting at the end of term would be nonexistent.

Answered by lrgche at Jul 7, 2009 01:11 PM