What does renewable and convertible term life insurance?

What does renewable and convertible term life insurance?

Renewable term life insurance policies automatically renew at the end of the term. For a 20-year term life insurance, the insurance would automatically renew in year 21 for another 20 years. … Convertible term life insurance allows policyholders to swap their term policy for a permanent policy, up to a certain age. Mar 20, 2013