Convertible Term Life Insurance is a type of life insurance coverage that can be converted into permanent insurance regardless of the insured's physical condition, and without a medical examination.
Guaranteed insurability refers to an insurance policy feature that allows an individual to purchase additional life insurance without undergoing a medical examination, under specific conditions, thereby ensuring continued coverage regardless of changes in health status.
A medical examination, often referred to as a physical checkup, is frequently required for applicants of life and/or health insurance. It helps to ascertain if they meet the insurance company's underwriting standards or should be classified as substandard or uninsurable.
A physical examination involves the direct physical inspection of an object or individual to ensure safety, functionality, or health. It includes structural inspections of objects like bridges and medical examinations of individuals.
