Make Your Term Insurance Fit Your Life

The largest death benefit claim Colton Groome Insurance Advisors has ever delivered was from a Term Life Insurance Policy. The beneficiaries never asked whether the benefit came from a term, whole life, variable life, or universal life policy. Term insurance is typically viewed as a simple purchase, where the lowest cost provider wins; but there is nothing further from the truth. Term insurance has it’s own set of nuances. Selecting the right carrier with the best conversion privileges could make a significant difference for you and your family in the future. The Colton Groome Insurance Team is specifically trained and works diligently to secure term insurance with the carrier that provides the best combination of:

  • Carrier Financial Strength,
  • Competitive Underwriting,
  • Competitive Premiums,
  • and Most Attractive Conversion Privileges.

Term conversion privileges vary widely in today’s products. Having an experienced advisor that understands your end goals can help you navigate this seemingly simple purchase.


  • Affordable, level premiums that are guaranteed for the duration of protection
  • Choice of death benefits paid to family as a lump sum or installment
  • Trade in your term policy for a permanent policy with the conversion feature without qualifying again medically


  • Replace income lost by the death of a wage earner
  • Cover new expenses incurred after the death of a caregiver or stay-at-home spouse
  • Reduce or eliminate debt like mortgages, credit card  balances, student loans, and auto loans
  • Provide protection today until your budget allows for permanent insurance
  • Assure funding for college education of children
  • Ensure the availability of assets to care for a parent or child requiring living assistance or medical care




What makes a term policy with conversion privileges different?

Not all term insurance is created equal! For a slightly higher premium, convertible term insurance policies can be  customized with additional features to improve how term insurance fits your life now…and in the future.

Conversion lets you keep your protection longer than originally planned by switching your term policy for a permanent policy that can provide protection for life. It also guards against the risk of a future health decline limiting your ability to get new coverage in the future by removing the requirement to qualify medically when you convert. Unlike many term policies, convertible term insurance policies have an optional feature that extends the period of time you have to make the choice to convert.

If you’re worried about your family being irresponsible or naïve with a large lump sum of death benefit, convertible term insurance policies allow you to choose how much benefit is paid as a lump sum and how much is paid in installments. You can even structure the installments as monthly payments for up to 30 years. This lets you match your benefits with your goals like a lump sum to pay off debts and installments for future living expenses.

While you may not be worried about the potential for a chronic illness or care event today, it may become more important as you get older. Convertible term insurance policies have an optional feature that lets you add chronic illness protection to a new permanent policy when you convert your term policy. It also avoids the need for qualifying for the feature at the time of conversion.

Ready to Discover Your Options?