Convertible term policies offer cost-effective temporary coverage with a future option to upgrade to permanent life.

Term life is cheaper initially, but permanent policies cover a lifetime and provide additional living benefits.

Whole life provides lifetime coverage, level premiums, and a unique, market-insulated cash value component.

The policy's cash value can be used without restrictions to fund major goals like college or retirement income.

Work with a financial professional to fully understand your current term policy's conversion provisions and features.