Term Life Last reviewed: 2026-10-03 Part of Term life

Term Life Conversion: How It Works and When Your Window Closes

Written and reviewed by Hans Goldstein, licensed insurance producer, NPN 20602398 · CA Insurance License #4273294
Last reviewed October 3, 2026 · Published October 3, 2026

Short answer: a convertible term policy lets you switch some or all of your coverage to a permanent policy without a new medical exam, at the health class you were originally issued. That is the most valuable feature most term owners never use. The window is limited: most contracts end it at the earlier of the end of the level period or age 70, and several end it sooner. Find your deadline in your policy's conversion provision, or use the deadline checker below.

What conversion actually gives you

When you bought your term policy, the insurer looked at your health and put you in a class (preferred, standard and so on). Conversion lets you keep that class when you move to permanent coverage, even if your health has changed. Carrier documents from Pacific Life and North American confirm no evidence of insurability is required to convert, and keeping the original underwriting class is the industry norm, though you should confirm it in your own contract.

That matters most to the people who need it most. If you were preferred at 40 and had a heart stent at 58, a new application might be rated or declined. A conversion is not a new application. It is a right you already paid for.

What to do this week

Find your policy schedule page and the conversion provision (often titled Conversion Privilege).
Write down the conversion deadline and any earlier date when the product menu narrows.
Ask the carrier which permanent products are eligible today, and whether any conversion credit applies.
Decide how much to convert. You can usually convert part of the face and let the rest run as term.
Get an illustration of the permanent policy that shows guaranteed, midpoint and illustrated-scale values.

Video: Term Life Conversion in about 2 minutes

1 min 54 sec video. AI narration of this page, accuracy-checked against the review; the tables on this page are the current source. Education, not personal advice.

Video transcript

Short answer, a convertible term policy lets you switch some or all of your coverage to a permanent policy without a new medical exam. At the health class, you were originally issued. Right, which is huge. It really is. So today we're looking at an independent page by Hans Goldstein, who is an independent licensed insurance producer. Yeah, and just to be clear up front, we're just providing general education here, you know, not personal advice. Exactly. So what you're really preserving with this conversion is your original underwriting class, right? Yeah, exactly. When you first bought your policy, they check your health and, you know, assigned a class. So converting isn't a new application. Right. It's a right you already paid for in your term premium. According to a Tritium compilation of carrier conversion privileges from April 2024, most contracts end at the earlier of two dates. Okay, what are they? The end of the level period or age 70. So say you bought a 20-year term policy at 55. Right. It loses its conversion right at 70, which is five years before the level period actually ends. Wow. Okay. Yeah. So you can't just wait around. Definitely not. And some exceptions are even stricter. Take the Protective Classic Choice Term, for example. Oh, yeah. Looking at the page, that one ends at the earlier of the level period minus two years or age 70. Exactly. Plus, they only give you their full product menu in years one to five. You are moving from renting coverage for a set period to owning it for life. So it's going to be an adjustment. Yeah. The permanent premium is based on your actual age at conversion. So it will be much higher than your term premium. The win is the health class, not a low price.

Conversion deadlines by carrier

The table below is a starting point, compiled from a public April 2024 summary of carrier conversion privileges (secondary source) (Tritium compilation) plus carrier guides. Products change and older policies follow the contract that was issued, so confirm the deadline in your contract before you rely on it.

Typical term conversion deadlines

Carrier / product	Conversion deadline (as of April 2024)
Protective Classic Choice Term	Earlier of the level period minus 2 years or age 70; full product menu only in years 1 to 5
Banner / Legal & General OPTerm	Earlier of the level period or age 70 (issue ages 66+: first 5 years); converts to LifeStep UL
Pacific Life PL Promise Term	Earlier of the level period or age 70; not available if issued at 70+
Corebridge Select-a-Term	Earlier of the level period or age 70
Lincoln TermAccel / LifeElements	Earlier of the level period or 70; full menu in years 1 to 7
Prudential Term Essential	Earlier of the level period or 65, minimum 5 years; PruTerm One: 5 years only
John Hancock Protection Term	Earlier of the level period or 70; full menu in early years only
Mutual of Omaha Term Life Answers	Earlier of 10/15/20 years or age 75 (30-year term: first 20 years)
Transamerica Trendsetter Super	Earlier of the level period or 70 (75 for Preferred Plus)
Symetra term	Earlier of the 10th anniversary or age 70; one conversion
North American ADDvantage	Earlier of 70 or 7/12/15/20 years for 10/15/20/30-year terms; minimum 5 years
Principal 10-year term	First 7 years; a paid extension rider extends it to the level period or 70
Ladder	Not convertible

Source: Tritium term conversion privileges compilation (April 2024) and carrier guides. Your policy's conversion provision controls. Haven Life closed to new business in January 2024; MassMutual services in-force policies.

Two patterns stand out. First, "earlier of the level period or age 70" is the most common rule, so a 20-year term bought at 55 loses its conversion right at 70, five years before the level period ends. Second, many carriers let you convert to their full menu of permanent products only in the early years, then narrow it to one or two products. If you want an indexed universal life policy rather than a basic universal life, convert while the full menu is open.

Term conversion deadline checker

Enter the details from your policy's conversion provision. Most contracts end conversion at the earlier of the end of the level period or a set age (70 is the most common). Some end it earlier.

Policy issue date (from your policy schedule page)

Your age when the policy was issued

Level term length

Conversion age limit in your contract

Conversion ends this many years before the level period ends (0 if none)

Term owners

Know your conversion deadline before it passes.

Send your email and I'll send the checklist of what to ask your carrier, plus a reminder before your window closes.

We’ll email it to you. Hans Goldstein · NPN 20602398.

Rather talk it through? Or book 15 minutes on Hans’s calendar.

What you can convert to

Each carrier lists the eligible products. Common choices are guaranteed universal life (lowest guaranteed cost for a death benefit to a chosen age), indexed universal life (more potential cash value, not guaranteed) and sometimes whole life. The right one depends on why you still need coverage:

Estate liquidity or a trust: a guaranteed death benefit usually wins. See GUL vs IUL.
Lifelong coverage plus cash value: an IUL funded properly can build cash value over 15+ years. See max-funded IUL.
You only need part of it: convert the slice you will need for life and let the rest expire with the term.

The permanent premium is based on your age at conversion, so it will be much higher than your term premium. That is normal: you are moving from renting coverage for a set period to owning it for life. The win is the health class, not a low price. As with any life insurance that qualifies under IRC §7702, the death benefit is generally income-tax-free to your beneficiaries under IRC §101(a).

Ladder and other policies you cannot convert

Not every term policy converts. Ladder's term coverage is not convertible, and some online term policies depend on the issuing carrier's rules. If your policy has no conversion privilege, the only route to permanent coverage is a new application with new underwriting. That makes your health today the deciding factor, so apply while you are healthy.

Partial conversion, conversion credits and timing

Some carriers offer a conversion credit, a premium credit in the first year of the new policy for converting within a set window. Availability varies; ask the carrier in writing. Converting earlier also means a lower issue age on the permanent policy, which lowers the cost of insurance for the rest of your life. Waiting until the last month keeps your term premium low for longer, but it risks missing the deadline over a paperwork delay.

If your term is ending soon, read what happens when term life ends for the full set of options.

Is your conversion window closing?

Send your carrier, issue date and face amount. Within one business day Hans tells you your deadline, the products you can convert to, and whether converting part of it makes sense.

If you want the carrier's own answer, the in-force request letter is on the policy review page.

Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.

Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer

Frequently asked questions

Do I need a medical exam to convert term life insurance?

No. A conversion is a contractual right, not a new application, so no new evidence of insurability is required. The industry norm is that you keep your original health class; confirm this in your policy's conversion provision.

When does my term conversion option expire?

Most policies end conversion at the earlier of the end of the level period or a set age, most often 70. Some end it sooner, for example the level period minus 2 years, or the first 5 to 10 years. Your contract controls.

Can I convert only part of my term policy?

Usually yes. Many carriers let you convert part of the face amount to a permanent policy and keep the rest as term until it ends. Ask the carrier for the minimum conversion amount.

Is converting term to permanent worth it?

It is worth it when you still need coverage after the term ends and your health has changed, because conversion keeps your original health class. If you are healthy and only need coverage for a few more years, a new term policy may cost less.

Which term policies cannot be converted?

Some cannot. Ladder's term coverage is not convertible, and some online term products follow the issuing carrier's rules. Check your policy for a conversion privilege before you rely on it.

Sources

Hans Goldstein, CA Insurance License #4273294 · NPN 20602398 · Goldstein & Co. LLC dba Goldstein Insurance Services, CA License #6016830

Contact: hans@hansgoldstein.com · 213-414-2808

General education, not tax or legal advice. Tax treatment depends on your facts and on current law, which can change. Talk to your CPA or estate attorney. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Guarantees apply only to the contractual terms of the policy. Caps, participation rates, loan rates, charges and dividends are not guaranteed and can change. Hans is paid a commission by the insurer if you buy a policy through him. For life insurance, ask and he will tell you what he earns on your specific policy. Product and company names are trademarks of their owners. Goldstein Insurance Services is an independent agency, not affiliated with or endorsed by any insurer named here. Life insurance requires underwriting; not everyone qualifies. This page describes products in general terms; read the policy and the insurer's disclosures before you buy.