Lincoln Benefit recently announced they will be discontinuing the Legacy Secure UL product as of May 1, 2015 as an available conversion product for term insurance policies.  Legacy Secure UL is Lincoln Benefit’s guaranteed universal life insurance product that allows the policy to be structured to keep the premiums and death benefits fixed and guaranteed for life.  If you have a term life insurance policy with Lincoln Benefit, call us to find out what the cost would be to convert it to permanent coverage.


Why should I convert my term insurance policy?

Converting a term insurance policy allows you to secure permanent coverage that keeps the premiums guaranteed for life (rather than it only being fixed for a specified number of years – e.g. 10, 15, 20, 25, or 30 year term insurance) and retain the existing risk classification of your policy regardless of your present medical history.  The rates only get recalculated based on your age at the time of the conversion.

So if you had preferred rates on your existing policy and have had cancer, become diabetic, had a heart attack, or a number of other medical problems since you first took out your policy, then you may want to consider coverting it to permanent coverage.


Do I have to convert all of it at once?

Nope!  With term insurance conversions, you can elect to convert all or a portion of the coverage amount.  For example, if you have a $500,000 policy, you could elect to convert $250,000 of the policy to permanent insurance and keep the remaining $250,000 as term insurance.


If I only convert part of the face amount, what happens to the rest?

It is kept as term life insurance and the premium automatically recalculates based on what the new term premium would be.


What should I do?

Need help with your coverage?  Looking to purchase a new policy? Get the help you need all in one place! Talk to one of our experienced life insurance experts today.  1-888-972-0024.  You can always e-mail us with your questions by clicking here and a representative will contact you shortly.

Let Term Insurance Brokers do the work for you!  We do not charge any fees for our services.


Call us today!