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Life Insurance

When to Switch from Term Life to Whole Life Insurance

The needs of people change over time and many individuals have a term life insurance policy that covers them for a span of 10 to 30 years. The policies are typically purchased to cover final expenses, provide college funds or pay off a mortgage when the person dies.

They’re relatively affordable, but the disadvantage of a term policy is that if the holder doesn’t die during that time, the policy expires. Individuals are left without life insurance after paying in all that money over the years.

Many people aren’t aware that most term life policies contain “riders,” allowing them to convert it into a whole life policy that provides coverage until their death. The question then becomes one of weighing the advantages and options against the disadvantages and when should the conversion be done.

Examine the Policy

Some term policies only allow the holder to convert to whole life after they’ve paid in on the policy for a specific number of years. Others only allow a conversion after the policy holder attains a certain age, which is typically 65 or 70.

A major consideration will be the individual’s financial stability. A whole life insurance policy has significantly higher premiums than a term life policy. Anyone on a fixed income may not be able to afford the premiums after the conversion.


Converting from a term policy to whole life ensures the policy holder will be covered until the time of their death, no matter what age that may be. It’s also advantageous if the person’s health has changed.

Many insurers allow clients to convert even if their health has changed and don’t require them to reapply for a whole life policy. Obtaining any type of life insurance becomes far more difficult the older the person is. Insurance companies regularly deny coverage to anyone with a health issue ranging from asthma and diabetes to heart disease.


It may be possible to convert only a portion of a term policy to whole life. For others that can’t or don’t want to pay the higher premiums of a whole life policy, they have the option of simply purchase another term life policy.

For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.


The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487