When Matt bought his Erie Family Life term life insurance policy at age 31, age 50 was not even on his radar. His term life insurance policy did its job as intended. It provided adequate protection for Matt while he bought his house and raised a family.
Fast forward 20 years and the term policy is ready to expire. Matt realizes he needs life protection for a few more years. However during the past 20 years Matt has had several changes to his health and is not likely to get life insurance at an affordable price. What to do now?
Matt’s term life insurance policy from Erie Family Life has a convertibility option. Matt signed a simple term conversion application and paid the premium. He now has a Universal Life policy with no medical questions or physical exam needed.
You really can’t go wrong with a Term Life Insurance policy that is convertible.