October 15, 2024 · 18 min read
Converting Term Life to Whole Life: How It Works
How to convert a term life policy to whole life, when to do it, what conversion costs, and how borrowing against the new policy's cash value works.
Ava Sinclair
Know your rate before you talk to anyone.
Expert guidance to find the best insurance plan tailored to your needs. Compare 50+ top-rated carriers and see what you qualify for, right here.
Term life estimate
—/mo
Preferred Plus to Standard: …
35
Estimate for illustration. Your health answers refine it in the next step.
Compare prices among America's top insurers
We partner with top US life insurance providers to find a plan suited to your needs and budget.
- Mutual of Omaha
- Transamerica
- John Hancock
- Prudential Financial
- MetLife
- AIG
- Foresters
- Americo
- American Amicable
- National Life Group
- Ethos
- Prosperity Life
- Great Western
- Colonial Penn
- Aetna
- and more
From question to covered, without the runaround.
- Step 1
Answer a few questions
Age, health basics and how much coverage you want. About two minutes, no phone number required.
- Step 2
See what you qualify for
Your estimated price and likely health class, with live sliders to tune coverage and term.
- Step 3
Lock it in with an advisor
A licensed agent confirms the best carrier for your health profile and helps you apply — often with no exam.
Find the coverage that fits your life.
Compare all coverage typesTerm life insurance
The most coverage for the least money.
Estimates from $14/mo
Whole life insurance
Are you looking for a way to secure your family's financial future for good? Whole life covers you for your entire life, builds guaranteed cash value, and the premium never changes..
Estimates from $45/mo
Final expense insurance
Small, permanent life insurance built to cover funeral costs, medical bills and the expenses your family would otherwise pay out of pocket.
Estimates from $19/mo
Indexed universal life (IUL)
Permanent life insurance whose cash value can grow with a market index like the S&P 500 — with a guaranteed floor so a bad market year never costs you credited value..
No medical exam life insurance
Skip the needles and the nurse visit.
Estimates from $16/mo
Mortgage protection insurance
Life insurance sized to your mortgage, so your family keeps the home if something happens to you.
Estimates from $18/mo
Annuities
Invest today and reap the rewards for life.
Medicare
Turning 65 or reviewing your plan? We help you compare Medicare Advantage, Medicare Supplement and Part D options in your ZIP code — at no cost to you..
Why Policy Ocean?
Most quote sites hide the price until you hand over your phone number. We show you the price first, and when you want help, you get one licensed advisor who knows your file.
- Personalized plans just for you
- We work closely with you to design insurance policies tailored specifically to what you and your family need.
- Affordable options, no compromises
- We find options that comfortably fit within your budget, without compromising on quality or coverage.
- Expert guidance, every step of the way
- Our dedicated team of experts will guide you through every decision, ensuring you're equipped with the knowledge to make the best choices.
- Trustworthy and transparent
- We value honesty and transparency. We provide clear details about our offerings and processes, and we're always here to answer any questions.
What you get here that you won't get elsewhere.
| Feature | Policy Ocean | Typical quote sites |
|---|---|---|
| See your estimated price before sharing a phone number | Yes | Usually not |
| One licensed advisor, not a flood of calls | Yes | Often shared with several agents |
| Term, whole, IUL, final expense, annuities and Medicare in one place | Yes | Usually term only |
| Options for diabetes, heart history and other conditions | Yes | Limited |
| Live sliders to adjust coverage and term instantly | Yes | Rarely |
Client Success Stories
Hear directly from our clients about their insurance experience.
“Working with Policy Ocean was one of the best decisions I've ever made. The process was straightforward, and their team was always there to answer my questions. My family and I now have peace of mind, all thanks to them!”
“I never thought insurance could be this hassle-free! The personalized advice and competitive rates offered by Policy Ocean are simply unparalleled.”
“The customer service at Policy Ocean is top-notch. From day one, they've made me feel valued and ensured that I got the best coverage suited for my needs.”
“I've been with several insurers over the years, but none have come close to the efficiency and dedication of Policy Ocean. Their expert advisors walked me through every step, making sure I understood all the details.”
“While I was a bit skeptical at first, Policy Ocean proved me wrong. They found a plan that fits my budget without compromising on the coverage. Highly recommend!”
How much life insurance do I need?
Add up income, debts, mortgage and college costs in about a minute and get a recommended coverage amount.
Open the calculatorLife insurance rates by age
Average monthly term life prices for every age from 25 to 65, by coverage amount and tobacco use.
See the rate tablesWhat is the difference between term and whole life insurance?
Term life covers you for a set period (usually 10–30 years) at a low price and has no cash value. Whole life covers you for your entire life, has fixed premiums, and builds guaranteed cash value — but costs significantly more.
Read the full answerHow much life insurance coverage do I need?
Most people need 10–15 times their annual income. A more precise answer adds your debts, mortgage, future education costs and final expenses, then subtracts savings and existing coverage.
Read the full answerIs whole life insurance a good investment?
Whole life is best viewed as permanent protection with a conservative, guaranteed savings feature. It can make sense if you need lifelong coverage or have maxed out other tax-advantaged accounts — but it is not a replacement for retirement investing.
Read the full answerCan I see my rate without giving my phone number?
Yes. Our rate checker shows your estimated price and likely health class after a few questions. You only share a phone number if you want an advisor to confirm the rate and help you apply.
Read the full answerDoes it cost more to buy through Policy Ocean?
No. Life insurance prices are set by the carrier and filed with each state, so you pay the same premium as buying direct. We are paid by the carrier you choose.
Read the full answerLearn before you buy
All guidesOctober 10, 2024 · 19 min read
How to Choose a Term Length for Life Insurance
Compare 10, 20 and 30-year term lengths and learn how to match your policy to your mortgage, children's ages, income and retirement plans.
Lili N.
October 9, 2024 · 20 min read
Can You Cash Out an Annuity? Penalties and Payouts
Learn how annuities work with real examples, how to cash out early, what surrender charges and taxes apply, and how long annuity payments last.
Ethan Parker
October 8, 2024 · 17 min read
How Much Does IUL Cost? Fees, Premiums and Who It Suits
Break down the premiums, fees and hidden charges in an IUL policy, see how it compares with a Roth IRA, and learn who indexed universal life suits best.
Lili N.
October 8, 2024 · 19 min read
What Happens If You Outlive Term Life Insurance?
Find out when term life insurance pays out, how claims work, and your options when the term ends, including renewal, conversion and buying a new policy.
Lili N.
October 4, 2024 · 16 min read
Whole Life Cash Value Growth and Policy Maturity
See how whole life cash value grows year by year, what happens when a policy matures, and practical ways to access or boost the cash value over time.
Lili N.
See your rate in about two minutes.
No phone number needed to see your estimate. Compare 50+ carriers, then talk to a licensed advisor only if you want to.