Paul Todd

Convertible term life lets policyholders move into permanent coverage without a new medical exam or other evidence of insurability during an eligible conversion period.
If no conversion happens, a nonrenewable term policy ends at expiration; permanent options may include whole, universal, or variable life coverage types.
Conversion can help when health changes make new coverage harder, or when cash value and updated death-benefit conditions matter for loved ones.
Trade-off: premiums may become 5 to 15 times higher based on conversion age, with less rider or coverage flexibility than buying new.
Some insurers allow partial conversion, and related choices include renewable term, accidental death coverage, or long-term care protection for different needs and preferences.

Convertible Term Life: Flexible Coverage Option

Home insurance is becoming a bigger planning item as premiums are expected to rise further, especially where household budgets already feel tighter.
Federal spending is projected at $7.4T in 2026, driven largely by retirement and health benefits, keeping household cost planning in focus now.
Retirement benefit adjustments are expected at ~3% through 2027, adding ~$57 monthly while insurance remains a rising household expense for many homeowners.
The retirement trust fund is projected to run out by 2032, making long-term homeownership budgeting more important for clients in high-cost states.
Potential benefit cuts of ~24% could deepen pressure, so insurance reviews, escrow checks, and reserve planning deserve attention now for today's homeowners.