Our Glossary of life insurance terms
Convertible Term Assurance
In life insurance this is a provision within a contract that
allows it to be converted into something of greater value, for
example convertible term assurance could be converted in the
future into Whole of Life assurance.
The life insurance company generally charges a higher premium
for these contracts but still far cheaper than the whole of Life
Insurance would be at that time.
This allows the client to get some degree of insurance but at a
later date apply free of any underwriting for a more