Converting term life insurance before the option runs out
Many term policies let you exchange some or all of the coverage for a permanent policy without proving you are still insurable. If your health has changed, that right can be valuable, but it comes with a deadline.
Bring your policy; we read the conversion provision with you
What term conversion is
A conversion privilege is a provision in many term life policies. It lets you exchange the term policy for a permanent policy from the same insurer, up to the face amount of the term coverage, without new medical underwriting.
- No new health questions: the insurer generally cannot decline you or rate you up because of changes in your health since the term policy was issued.
- Rate class: many carriers issue the new policy in the same or a similar risk class as the original term policy.
- Premium: the permanent policy is usually priced at your age at the time of conversion. Permanent coverage costs more than term because it is designed to last for life and may build cash value.
- Choices: some carriers allow conversion to any permanent product they sell; others limit you to a designated list.
Conversion deadlines differ by policy
The deadline is set by your policy, not by law, and it is easy to miss. Read the conversion provision or ask the carrier for the exact date.
End of the level period
Many policies allow conversion until the level-premium period ends, or until a stated age, whichever comes first.
A stated age
Common cutoffs fall around age 65 to 75, depending on the carrier and product.
A shorter window
Some policies limit conversion to the first several policy years, even when the term itself runs longer.
When converting is worth a close look
Your health has changed
A diagnosis since the policy was issued may make new coverage expensive or unavailable. Conversion keeps coverage regardless.
The term is ending, the need is not
A spouse who still depends on you, a business obligation or an estate plan that needs coverage for life.
You want permanent coverage for part
Many policies allow a partial conversion, so you can keep some term and convert the amount you want for life.
You are on premium waiver
If you are disabled and premiums are being waived, check how the policy handles conversion; some carriers continue the waiver on the new policy.
You are leaving a job
Group life coverage usually has its own conversion right with a short deadline when employment ends.
A conversion credit is available
Some carriers credit part of the term premium toward the new policy if you convert early. Not all do.
Converting group life when you leave a job
Washington law gives an employee whose group life coverage ends because employment ends, or because they leave an eligible class, the right to convert to an individual policy without evidence of insurability. The application and first premium must be made within 31 days after the coverage ends.
- The individual policy can be any form the insurer customarily issues, except term insurance, up to the amount of coverage that ended.
- It is priced at the insurer's customary rate for your age and class of risk at that time, so it can be expensive. If you are healthy, new underwritten coverage may cost much less.
- Your plan may also offer portability, which lets you keep group term coverage at group-style rates. Ask HR for both options before the window closes.
How a conversion review works
Find the provision
Send us your policy or the carrier's contact information. We confirm whether it is convertible, the deadline and the eligible products.
Request the options
We ask the carrier for conversion illustrations, including partial conversion amounts and any conversion credit.
Compare with new coverage
If your health allows, we compare the conversion against newly underwritten term or permanent coverage from other carriers.
Convert before the deadline
We help complete the conversion paperwork and make sure the new policy is in force before the old coverage ends.
Term conversion FAQ
Do I need a medical exam to convert?
Will my premium be higher?
Can I convert to another company's policy?
Can I convert only part of my policy?
What if I miss the deadline?
Is conversion always the right choice?
Check your conversion deadline
Send us your policy details. We will confirm your conversion options and compare them with new coverage before the window closes.
Content on this page is a general summary for education. It is not tax, legal or investment advice, a statement of coverage, an offer or a binder. Scenarios and dollar figures are illustrative examples, not representations about any person or business. Tax figures reflect 2026 federal and Washington rules as we understand them and can change. Consult your tax advisor and attorney before acting. Policy features, conversion rights and guarantees vary by carrier and contract, are subject to underwriting and the terms of the policy issued, and are backed by the claims-paying ability of the issuing insurer.