Question

In most Term Life policies, which of the following provisions allows the insured to change the policy to a permanent life policy without providing evidence of insurability?A) Conversion provision B) Accelerated Death Benefit provision C) Entire Contract provision D) Misstatement of Age provision

Answer 1

The provision that allows the insured to change a Term Life policy to a permanent life policy without evidence of insurability is the Conversion provision.

Step-by-step explanation:

In most Term Life policies, the provision that allows the insured to change the policy to a permanent life policy without providing evidence of insurability is the Conversion provision.

The Conversion provision allows the insured to convert their Term Life policy into a Whole Life or Universal Life policy without undergoing a medical exam or proving their insurability again.

For example, if a person initially purchased a Term Life policy but later decides they want a permanent life insurance policy, they can exercise the Conversion provision to convert their Term Life policy into a Whole Life or Universal Life policy.