Comments on: Should You Renew Your Term Life Insurance Policy? https://briansoinsurance.com/renew-your-term-life-insurance/ Taking care of the "if" in life Fri, 20 Jun 2025 18:47:38 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Brian So, CFP, CLU, CHS, BSc https://briansoinsurance.com/renew-your-term-life-insurance/#comment-6340 Mon, 21 Nov 2022 08:31:06 +0000 http://aafsinsurance.com/?p=1525#comment-6340 In reply to Maclean.

Hi Maclean,

Converting makes more sense if your health has declined and made you unlikely to qualify for insurance at the standard rate. However, you may not like the permanent insurance options provided by your current insurer, in which case you may buy a new permanent policy with a new insurer, health permitting.

Converting will cost the same whether you buy a new policy or convert your term policy.

Cheers,
Brian

]]> By: Maclean https://briansoinsurance.com/renew-your-term-life-insurance/#comment-6332 Sun, 20 Nov 2022 15:36:19 +0000 http://aafsinsurance.com/?p=1525#comment-6332 Hi Brian,
Converting term insurance to permanent insurance (whole life insurance) vs taking a new permanent policy which one makes sense?
You said it may be cheaper to obtain a new term policy vs renewing existing term policy if one is in good health. Will the same principle apply if you want to convert term to permanent policy?
Thanks

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