You might have the ability to trade lots of term insurance coverage for a money value policy throughout a conversion duration even if you are not in great health. Premiums for the new policy will be higher than you have been paying for the term insurance coverage. Long-term insurance (such as universal life, variable universal life and whole life) supplies long-term financial protection.

It's not about you. Life insurance coverage is something you do to secure those you like so they don't suffer economically if your earnings is no longer there. Life insurance can be the only thing that stands between your loved ones and monetary difficulty. Life insurance is needed for the "what-ifs" in life.

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