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I am seeing a lot more term carriers reduce their Conversion privilege to be less than the full level term period. If the client doesn't add a rider to extend the conversion period or the agent doesn't know or doesn't offer it, they may end up at the end of a 10 or 20 year level term period without an option to convert to WL/UL/IUL even if they are 30 to 50 years old and not near the max ages of 65-70 years old conversion expiration.
So, my question is How many of you are offering & selling the client on the added cost of the rider to extend the conversion privilege to the full level term period?
Just curious about thoughts on this as carriers are continuing to remove the ability for clients to continue coverage with the much higher renewal rates after the level term period and shorter conversion privileges. These are 2 of the ways that term has continued to get cheaper & cheaper.
So, my question is How many of you are offering & selling the client on the added cost of the rider to extend the conversion privilege to the full level term period?
Just curious about thoughts on this as carriers are continuing to remove the ability for clients to continue coverage with the much higher renewal rates after the level term period and shorter conversion privileges. These are 2 of the ways that term has continued to get cheaper & cheaper.