Using the conversion option present in a term policy you can convert the same to _________.

A. Whole life policy

B. Mortgage policy

C. Bank FD

D. Decreasing term policy

Answer: Option A

Solution(By Examveda Team)

Using the conversion option present in a term policy you can convert the same to Whole life policy. Most term life insurance policies sold today come with a conversion feature that allows you to convert some or all of your term life insurance policy to a permanent policy like whole life, universal life or variable life.