What Is A Term Life Insurance Conversion Credit? 
Term life policies that have an option to convert term life to whole life or even in some cases universal life are designed to protect a person 's insurability . Not all term life policies have this feature . Simply put it allows a person who purchases a lower premium term life plan the option to convert to permanent whole life insurance without proof of insurability . Several companies offer this feature every at 5 years for up to 20 years . It is a generous feature for those insureds diagnosed with an injury or illness rendering them uninsurable for life insurance . 