Will you have the flexibility to convert your term coverage to permanent at some point in the future? If so, are there any restrictions as to the type of permanent plans you can convert to? Some companies only allow conversions to specific permanent plans and this can work against you. Typically, term products set a maximum age for conversion. Ages vary by company and product. If you don’t convert prior to the age specified, you may be left with no coverage once your term insurance expires.
