If you are a term life insurance holder in Hutchinson, KS, and you don’t want to keep this policy, you can easily convert it to whole life insurance without difficulties. According to DJ Kauffman Agency, it is even easier to convert your life insurance policy than to buy a new one. Here are some of the stages you have to follow when converting from term to whole life insurance policy.
Check Whether Conversion is an Option
The first step is checking whether your term insurance gives you an option to convert to whole life insurance. Generally, most insurance companies offer this option, but some remain silent on the whole conversion process. It is always necessary to understand the options available for you before starting the process.
Check the Conversion Period
Another important detail that you need to check is whether you are still within the conversion period. There is a tendency for some insurance companies to input an expiry date where you cannot convert your policy. However, most companies leave it open for you to choose and decide whether you want to convert at any given date.
Check Conversion Costs
Generally, when you move from term life insurance to whole life insurance, you are changing from one insurance product to another. Every product has different costs. So, you need to analyze the conversion costs. Insurance companies may want to benefit from the whole conversion process by adding unnecessary costs. However, some organizations can leave it open and cheap for you because you will remain a customer.
DJ Kauffman Agency has been helping life insurance customers in Hutchinson, KS, to convert term life insurance to whole life insurance within a day. As a leading life insurance company, we believe in giving our customers flexible options to enhance their satisfaction.