Convertibility - The Power of Term

As our client’s needs change, their insurance should too. Equitable Life® Term insurance can help cover a client’s temporary needs today and then convert coverage later to help protect any future lifetime needs.
We’ll show you some options for converting a client’s Term policy in the future, regardless of their health at that time!
 

What happens if… a client’s temporary need for protection today turns out to be just a bit longer?

 We have clients covered under our Exchange Option where any 10-year Term purchased today can be exchanged so that they’re covered for up to 25 years instead. This is all without having to submit additional medical information (this means no underwriting!). 
 

What happens if… a client has a temporary need now that changes to both a temporary need and a lifetime need later?

By using our Partial Conversion Option¹, your client can convert part of their Term policy to a permanent policy and the other remaining coverage to a Term rider on that policy. By doing this, they not only get the coverage they need but also:

• save by having only one policy fee
• have the convenience of everything in one policy

 

What happens if… a client has a temporary need today that changes to a lifetime need later?

By using our Full Conversion Option¹, a client can convert their entire Term policy to Equimax®, our industry leading participating whole life plan, or Equation Generation® IV our universal life plan. By doing this, you not only cover off the client’s need for lifetime protection, but you do so with locked in level rates.
 

Reminder of our Stop Smoking Incentive Program

Should a client quit smoking for 12 consecutive months they could receive a refund². Details are available in the 1024 Individual Guide to Underwriting.
 

Apply now to see the power of Term

Encourage clients to apply for Term now – the earlier the better to get the best rates!
 

Learn more about Term:

• 1801 Term Life Protection Flyer
• Term Life Insurance – The perfect balance between need and affordability
• Term Exchange Option FAQ

 
¹ Conversion must occur prior to the age specified in the contract and plan minimums must be met. For partial conversions, if 50% or more is converted, the remaining Term can be added as a Term rider to a permanent plan, at current age and rates. If less than 50% is converted, the remaining Term can be added as a Term rider at current age and rates to a maximum face amount equal to the permanent coverage. See contract for details.
² Should a client quit smoking for 12 consecutive months within the first two policy years, Equitable Life will refund the difference between what they paid as a smoker and what they would have paid as a non-smoker for a maximum one month period. Eligibility is subject to certain conditions including a negative cotinine level, and evidence of continued insurability. Term clients may be eligible to move from a Class 4 Preferred Smoker or Class 5 Smoker to a Class 3 Non-Smoker.
 

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Resources

• EZcomplete online application
• Advisor Guide
• Product Summary 
• Term Rider Admin Rules
• Term Exchange Option FAQ 
• CI Special Offer Sales Tools

Sample Policy Pages 

• Optional Riders available on Term 
• Renewable and Convertible Term - Joint First
• Term Single and Multiple Lives
• Term as a Rider

Helping you sell

• Peace of mind at an affordable price 
• Flexible protection that can last a lifetime
• A plan you can build on.
• Term for family protection
• Unique Mortgage Protection 
• Taking Care of Business 
• Campaign in a box - mortgage protection 

Sales Solutions

• There's no place like home 
• Balancing need and affordability  
• Make it a family plan 
• CI+Term bundle - flexible combo for life 
• UL+term+CI bundle - young professionals