Which of the following provides a right to convert term insurance to a permanent policy?

Convertible Term Life Insurance allows policyholders the option to convert their term life insurance policy into a permanent life insurance policy without undergoing additional medical underwriting. This feature provides flexibility, as it enables individuals to maintain coverage as their needs change over time or as health conditions evolve. Typically, this option must be exercised within a specific time frame or before the term policy expires.

In contrast, other types of term life insurance, such as Level Term Life Insurance and Decreasing Term Life Insurance, do not inherently include this conversion feature. Level Term policies provide a fixed death benefit and premium over the term period, while Decreasing Term policies have a death benefit that decreases over time, often linked to loans or mortgages. However, neither of these options allows for conversion to a permanent policy.

By selecting a policy with the convertible feature, individuals can secure long-term coverage even if their health status changes, which can be particularly advantageous as they age or face unforeseen health challenges.