Round Table | What is a Term Conversion?

The Wealth Without Wall Street Podcast · Oct 20, 2020 · 37m

When we talk about life insurance, people usually think of a whole life policy—your policy is active until you pass away. This has its benefits, but many people would benefit more from a term life policy. Simply put, a term life policy is active for a designated set of years, which allows it to have lower premiums and the ability to convert into a whole life or infinite banking policy. Most whole life insurance policies are calculated based on the number of working years someone has left, which can both be wrong and unsettling to think about. In contrast, a term life policy is great for…