Existing coverage
Your term life policy is expiring. Can you convert it?
The end of your level-term period and the deadline to convert are not always the same date.
Ask your insurer to confirm in writing: your conversion rights, which products you can convert to, how the price is set, and the exact deadline. Do it before you decide anything else.
Who this is for
- Owners whose level-term period is ending
- Anyone who received a renewal notice with a much higher premium
- People whose health has changed since they bought the policy
Three dates that people mix up
A term policy can have a level-premium period, a conversion deadline and a renewal schedule after the level period ends. They’re set by your contract, and the conversion deadline is sometimes earlier than the end of the level term.
After the level period, many policies renew at sharply higher, increasing premiums. That’s the jump on the renewal notice.
Conversion matters most if your health has changed
A conversion privilege, where your contract has one, typically lets you move to permanent coverage with the same insurer without proving your health again. Whether medical evidence is required, which products are eligible and how pricing works all depend on your contract, so confirm before assuming.
If your health is good, it may also make sense to compare a newly underwritten policy, but don’t let the conversion option lapse while you shop.
Resize before you convert
Your coverage need today may be different from when you bought the policy. Many contracts allow converting part of the face amount. Start from what you need now.
Deadline worksheet
| Date | Where to find it | Your date |
|---|---|---|
| Level-premium period ends | Policy schedule page | |
| Conversion privilege ends | Conversion rider or contract provision | |
| Renewal premium starts | Renewal notice / premium schedule |
What to bring to the review
- The complete contract and any conversion rider
- Issue date and the insured’s date of birth
- All recent insurer letters
- Current beneficiary and any assignment
- What the coverage needs to protect now
Mistakes that cost people later
- × Promising yourself “no exam” without checking the contract.
- × Confusing individual conversion with group-plan portability.
- × Assuming every permanent product is eligible for conversion.
- × Comparing premiums without comparing guarantees.
- × Starting a new application while the conversion deadline passes.
Questions people ask
Can I convert my term policy without a medical exam?+
Many conversion provisions don’t require new medical evidence, but your contract decides. Confirm in writing.
Why did the renewal premium jump?+
After the level period, many policies renew at age-based premiums that rise every year.
Can I convert only part of the coverage?+
Many contracts allow partial conversion. Check yours.
What if my health has changed since I bought it?+
That’s when conversion is most valuable. Protect the deadline first.
Does conversion cost more because I am older?+
Permanent coverage is generally priced at your current age, so it costs more than your original term premium.
What if I missed the deadline?+
Ask the insurer what options remain. Rights after the deadline depend on your contract.
Start a Life Planning Review
Tell Kevin what you need the coverage to accomplish. It takes a few minutes, there are no health questions online, and existing policies and documents are reviewed through a secure process.
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Kevin Brown, licensed New Jersey insurance producer (#3003694894)
Kevin Brown Insurance Agency, South Plainfield, NJ. You work with Kevin directly on every life case. Updated November 2026.
Coverage, policy features, premiums and underwriting requirements depend on the insurer, product, applicant and state availability. Approval is not guaranteed. Illustrations are not promises of future performance. Kevin Brown Insurance Agency does not provide medical, legal or tax advice. Consult your attorney or CPA about your circumstances.