Can you convert a term life policy into a whole life policy?

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1137311

2026-03-09 16:50

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Unlikely as the term polcy is for specific termand whole life pays out on death. The actuaries who set the premiums at the outset of the policy use mortality rates when the policy is taken out. To convert to a whole life policy would mean ia complete reevaluation which is not cost effective for the insurer. You could make term policy paid up and take out whole life policy but its best to take independent advice.

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