The paperwork I have states ‘amount of insurance payable at death of Insured convertible to an individual policy’ what does this mean?
If I understand what I’m reading, I have 3 yrs of extended insurance. Does this mean at that point I will no longer have life insurance? Can a term policy be traded for a whole life policy? What would you suggest?
I am now 66 years old. My father just passed away. He had 4 paid up whole policies at the time of his death. This what made me stop and think about life insurance.