Financial Adviser Newton Stewart, Wigtownshire ~ Financial Planning Newton Stewart, Wigtownshire
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Tel: 01671 403080

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Convertible Term

Convertible Term Assurance

Like Renewable Term Assurance, this type of term assurance contains an option at the end of the term. This time it is to convert it into a whole of life policy without the need for a medical. The option must be exercised before the plan ends. The level of protection cannot be increased upon conversion and, although your health is not taken into consideration at the time of conversion, the terms offered will be based on your age.

  • Option at specified dates to convert your protection-only policy into an investment type insurance policy based on your health at the time you took out the original term insurance.
  • The agreement requires that premiums are paid on time and that the insurer makes no changes except if a premium change is made for an entire class of policyholder
  • This option is of limited use.

Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.

THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.


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Company address:
Marr Financial Services Ltd, Central Office, 61 Victoria Street, Newton Stewart, Wigtownshire, DG8 6NL
T: 01671 403080
F: 01671 402549

Email: advice@marrfinancial.co.uk

Registration address as company address
Registration number: SC275449
Registered in: Scotland

Marr Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.

Marr Financial Services Ltd is entered on the Financial Services Register (http://www.fca.org.uk/register/) under reference 705884.

The FCA do not regulate National savings products, loans, Will writing, Commercial Mortgages and some forms of buy to let mortgages and inheritance tax planning.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

Telephone: 01671 403080 | advice@marrfinancial.co.uk

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