You might have the ability to trade many term insurance policies for a cash value policy during a conversion period even if you are not in excellent 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) provides long-lasting financial protection.

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

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