Wheeling, IL (PressExposure) January 21, 2010 -- AccuQuote, a leader in providing term life insurance quotes to people across the United States, explains the benefits of converting a term life insurance policy to a permanent one.

“Term life insurance is one of the safest and most affordable ways to protect your family’s future, but this form of protection will only last for the length of your term,” says Byron Udell, founder and CEO of AccuQuote. “In fact, your low cost level premiums will increase dramatically when your term ends because price increases with age.”

Fortunately, most term life insurance policies have a guaranteed feature that allows consumers to convert their existing term life policy to a permanent one. Depending on a person’s financial goals, converting a term policy to a permanent one may be an important decision for a family’s overall financial plan.

AccuQuote explains the benefits of converting term life insurance to permanent coverage:

• Easy process – There are no health and lifestyle questions or medical exams required.
• Level premiums – “Once you receive your policy, your premium is guaranteed to remain at the same price for the rest of your life, even if you’ve had a negative change in health,” says Udell.
• Guaranteed death benefit – Your designated beneficiaries are guaranteed to receive the proceeds from your permanent life insurance policy when you die, backed by the issuing life insurance company. “With permanent life insurance, the issue is not whether if your family with receive the death benefit, but when,” says Udell.

“While considering this important financial decision, keep in mind that your term policy’s conversion option is only available if it’s completed no later than a certain age,” says Udell. “In addition, if you’re considering converting your existing term policy eventually, the sooner the better because the converted policy’s premiums will be lower for the rest of your life if you convert now, rather than when you’re older.”

Once a consumer converts to permanent insurance, their premiums will remain level for the rest of their life. With term insurance, the premiums may become unaffordable as a consumer ages and as a result, they may need to cancel the policy before they die; leaving their loved ones unprotected.

“Even if you decide that converting your existing term life policy to a permanent one isn’t the best option for your family’s overall financial plan, the most important thing to remember is that having some life insurance is better than having no coverage at all,” says Udell. “But if you do decide to convert your policy, keep in mind that your policy’s conversion option must be exercised by a certain age.”AccuQuote, a leader in providing term life insurance quotes to people across the United States, explains the benefits of converting a term life insurance policy to a permanent one.

“Term life insurance is one of the safest and most affordable ways to protect your family’s future, but this form of protection will only last for the length of your term,” says Byron Udell, founder and CEO of AccuQuote. “In fact, your low cost level premiums will increase dramatically when your term ends because price increases with age.”

Fortunately, most term life insurance policies have a guaranteed feature that allows consumers to convert their existing term life policy to a permanent one. Depending on a person’s financial goals, converting a term policy to a permanent one may be an important decision for a family’s overall financial plan.

AccuQuote explains the benefits of converting term life insurance to permanent coverage:

• Easy process – There are no health and lifestyle questions or medical exams required.
• Level premiums – “Once you receive your policy, your premium is guaranteed to remain at the same price for the rest of your life, even if you’ve had a negative change in health,” says Udell.
• Guaranteed death benefit – Your designated beneficiaries are guaranteed to receive the proceeds from your permanent life insurance policy when you die, backed by the issuing life insurance company. “With permanent life insurance, the issue is not whether if your family with receive the death benefit, but when,” says Udell.

“While considering this important financial decision, keep in mind that your term policy’s conversion option is only available if it’s completed no later than a certain age,” says Udell. “In addition, if you’re considering converting your existing term policy eventually, the sooner the better because the converted policy’s premiums will be lower for the rest of your life if you convert now, rather than when you’re older.”

Once a consumer converts to permanent insurance, their premiums will remain level for the rest of their life. With term insurance, the premiums may become unaffordable as a consumer ages and as a result, they may need to cancel the policy before they die; leaving their loved ones unprotected.

“Even if you decide that converting your existing term life policy to a permanent one isn’t the best option for your family’s overall financial plan, the most important thing to remember is that having some life insurance is better than having no coverage at all,” says Udell. “But if you do decide to convert your policy, keep in mind that your policy’s conversion option must be exercised by a certain age.”

About AccuQuote

AccuQuote helps consumers find the best values in term life insurance by combining instant online quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a life insurance needs calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance, and a blog which answers many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-800-442-9899.

Press Release Source: http://PressExposure.com/PR/AccuQuote.html