Term Insurance
Is term insurance renewable?
Most term insurance policies offer renewal options at the end of the term without the need for a medical exam.
Can I convert term insurance into whole life insurance?
Some term policies provide conversion options to permanent life insurance, allowing policyholders to switch without new underwriting.
What happens if I outlive my term life insurance policy?
Coverage ends, and there is no return of premiums paid during the term.
Is term insurance taxable?
Death benefits are generally paid tax-free to beneficiaries under current tax laws.
Can I change the coverage amount during the term?
Some policies may offer options to adjust coverage amounts during the term based on specific life events or changing financial needs.