Good for Insureds, Good for Agents
Almost every term policy has contractual conversion rights in the policy which allows the insured to exchange their policy or a portion of it for a permanent one without providing any medical underwriting. This is a particularly valuable benefit for someone whose health has deteriorated from original issue and wishes to preserve their original superior underwriting classification.
It’s a simple process. With basic policy information we can provide illustrations for you to offer to you client. The paperwork is minimal and almost every company pays first year commissions on the new contract. If you are not licensed/contracted with the company in question, our licensing department can handle that for you as well.
Fill out and send the form below to get started. Then, here’s what you can expect from us.
Provide Illustrations: We will supply the illustration/s that you request for presentation to your client. Each company has conversion guidelines for products available depending on the year of conversion, age of client and when policy was issued.
Paperwork: We will supply the conversion forms and any other necessary paperwork to complete the conversion process. Each company has their own forms depending on the product being used and they are state specific. We are happy to send you the appropriate conversion packet. Target will also coordinate your licensing with the company should that need to be done.
What if you aren’t the writing agent? (That’s usually not a factor except with some career companies.) When servicing new or existing clients we often run across old policies that have conversion options that need to be considered. We are happy to help you investigate these.
To help you with conversions, this is the information we need (if you have it).