Ask the Life Insurance Expert
Is it possible, or desired, to change a term policy to a whole life policy? (Bought a term policy rather than mortgage life insurance.)
Yes it’s possible. Contact your insurance agent to find out if your policy is eligible for conversion. We have a story here on converting term life to whole life. It can be a good bet if, for example, you’ve developed a medical condition that would make buying a new policy hard or cost-prohibitive.