Convertible term is a type of term life insurance policy that can be converted to a permanent life insurance contract (whole life or universal life) without evidence of insurability. For example, a young woman may purchase term insurance to cover the basic needs of her family (pay off debt, final expenses, etc.). If the term is convertible to whole life, she may, before the end of the policy term, convert to a permanent form of life insurance even if she has contracted a major disease or become disabled. (See Term Insurance).