Can Term Life Insurance Be Converted To Whole Life? 
Yes , Term life insurance can be converted to Whole life or some other form of permanent insurance if : 1 -RRB- The policy you got has the option to be converted , 2 -RRB- you convert it within the time frame noted , and 3 -RRB- you can afford the premium for the converted policy . While a life insurance company may carry many types of permanent coverage , they do not always offer all of them to be used for conversions . Some companies only allow a term policy to be converted to one or two permanent policies , and those may not have all the guarantees or features that you might have chosen if the whole array of permanent products was available to you . Also , the permanent policy will be priced at the rates of that time , and at the age the insured person is at the time of conversion You can reduce the face amount to the minimum allowed for that permanent policy , but even $ 50,000 or $ 100,000 can be costly at an older age and for a permanent product . That being said , being able to convert a Term policy to Whole life or Universal life is a great feature , especially if someone has had a downturn in health after getting their initial Term insurance . There are no health requirements to convert Term life insurance , and the health rating for the converted policy will be the same as it was for the original Term policy . 