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Convertible Term Assurance With this type of plan, the sum assured stays the same for the term of the policy. However, for an additional cost you will have an option to convert this original plan, or part of it, to another type of policy such as an increasing term assurance, a whole of life policy or an endowment, without further medical evidence being required. If you stop paying the premiums at any time, cover will cease. You can take out convertible term assurance either in your own name or in joint names.
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