Conversion Option on Life Cover

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Most Life Policies will come with the option to have a Conversion Option as an additional benefit to the policy.

The Conversion Option provides the policyowner with the option to extend the Life Cover beyond the Term of the policy without undergoing medical underwriting.

Including a Conversion option will slightly increase the cost of the premium.

Note that the premium chargeable on the new policy (once ‘Converted’) will be the prevailing rate available from that Insurance Company at that point in time. Each Insurance company will have a maximum age that the policy can run until e.g. 80 or 85.