term and whole life insurance?

[Shine]

Is there some type of insurance policy that mixes both term and whole life insurance?

[jefffou]

I'm not sure that all insurance companies offer this, but I think that a few insurance companies offer a whole life product with a term insurance rider.

You would essentially own a whole life product that operates like any other. But with a few (hopefully) additional dollars you can increase your death benefit. These additional dollars may be "leveled" for a term of 5 years, for example.

I believe New York Life used to offer such a product.

Hope this helps.

[jpg7n16]

Convertible Term.

Term policy now, with an option to convert to whole life at any point during the term.