Yes, as long as you've purchased a convertible term life insurance policy. Keep in mind that convertible term life insurance usually has a conversion deadline, which is the date by which you must convert. And when you do convert your policy, you can expect your premiums to increase as you'll have permanent and not term insurance. The new premiums will be based on your age; this may be either your current age or the age at the time you took out the policy (an original date conversion). If you convert to your original age, you'll have to pay all back premiums and interest when you convert. The good news is that you won't have to prove your insurability (e.g., through medical exams) at the time of conversion.
Information provided has been prepared from sources and data we believe to be accurate, but we make no representation as to its accuracy or completeness. Data and information is not intended for solicitation or trading purposes. Please consult your tax and legal advisors regarding your individual situation. Neither AXA Equitable nor any of the data provided by AXA Equitable or its content providers, such as Broadridge Investor Communication Solutions, Inc., shall be liable for any errors or delays in the content, or for the actions taken in reliance therein. By accessing the AXA Equitable website, a user agrees to abide by the terms and conditions of the site including not redistributing the information found therein.
AXA Equitable Life Insurance Company (NY, NY). Securities are offered through AXA Advisors, LLC, NY, NY 212-314-4600 (member FINRA / SIPC). AXA Equitable and AXA Advisors are affiliated companies, do not provide legal or tax advice and are not affiliated with Broadridge Investor Communication Solutions, Inc.
Please be advised that this materials is not intended as legal or tax advice. Accordingly, any tax information provided in this material is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transactions(s) or matter(s) addressed and you should seek advice based on your particular circumstances from an independent advisor.
© Copyright 2016 Broadridge Investor Communication Solutions, Inc. All rights reserved.
GE 119180 (09/2016)