Effective April 1, 2020, we will be updating the conversion language for our Term Life Answers policies.

Conversion Period
The conversion period allowed will be as follows:

10-year Term:
– For issue ages 18-72: The earlier of 10 years or age 75
– For issue ages 73+: During the first 2 policy years only

15-year Term:
– The earlier of 15 years or age 75

20-year Term:
– The earlier of 20 years or age 75

30-year Term:
– During the first 20 policy years only
 
Conversion Product
Beginning April 1, 2020, the language in the Term Life Answers policy referring to the available conversion product will read as: The new policy will be a form of permanent insurance that we make available for conversions at the time of conversion.

Our previous Term Life Answers conversion language indicated the conversion product could be ‘any form of whole life insurance being issued by us at that time’. This language is no longer relevant to the products being offered in today’s marketplace.

Our current company practice will continue to be to allow Term Life Answers conversions into any of the products listed below, regardless of issue date. As with our previous language, the conversion products available are subject to change at any time and may vary in the future in accordance with the policy language.

Transition Rules
Term Life Answers marketing materials and the Life Underwriting Guidelines booklets are in the process of being updated with the new conversion guidelines. All materials will be updated by Monday, March 23, 2020 and will be available for ordering through your normal supply channels.

Marketing Materials
Term Life Answers marketing materials and the Life Underwriting Guidelines booklet have been updated with the new conversion guidelines. Updated materials are available for ordering through your normal supply channels.
 
Please note: The updated conversion language is only applicable to Term Life Answers policies. It does not impact the Term Life Express conversion language.
 

Updates to Term Life Answers Conversion Language
 

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