Which life insurance feature allows an insured to exchange a term policy for a policy?
A. Convertibility
B. Incontestability
C. Reentry
Answer (2)
The feature that allows an insured to exchange a term policy for a permanent policy is called convertibility . This option is valuable as it secures coverage without the need for new medical evaluations. Other features like incontestability and reentry serve different functions in life insurance policies.
;
The feature that allows an insured to exchange a term policy for a permanent policy is known as convertibility . This option is especially useful for those experiencing changes in health, as it provides security without needing to undergo further medical exams. Other terms like incontestability and reentry describe different insurance policy protections and options. ;
