What Is A Term Life Insurance Conversion Credit? 
A Term Life Insurance Conversion Credit is a break given to people converting their term insurance to permanent insurance . It is up to the insurance company whether to offer a conversion credit on certain term policies . If conversion credit is offered , when the insured person converts their term policy to a universal life or whole life , the premium for the first year of their new policy will be reduced by a credit based on the amount of term premium that was paid that year . 