Eligibility, Renewal and Switching

Who needs coverage, how underwriting works, and when to renew, convert or replace.

Not everyone needs life insurance, and not everyone who needs it needs the same product. This section helps you decide whether coverage makes sense for your situation, what insurers look at when they approve you, and what to do when a term policy is about to end or your needs change.

The eligibility guide covers who typically benefits and what the application process involves, including the medical exam and no-exam options. The guide on legal and lender requirements clarifies a common misconception: there is no state-mandated minimum for personal life insurance, though employers, lenders, courts and business agreements can require it. The renewal and replacement guides explain the risks of switching policies, including new contestability periods and lost conversion rights.

Before you cancel an existing policy for any reason, get the new policy approved and in force first. The buyer checklist is a good last stop before you submit an application.

Eligibility, Renewal and Switching

Guides in this topic

Eligibility, Renewal and Switching

12 Mistakes to Avoid When Buying Life Insurance

Avoid costly errors when buying life insurance: too little coverage, hiding health facts, wrong policy type, forgetting beneficiaries, cancelling too soon and more.

5 min read

Eligibility, Renewal and Switching

Who Needs Life Insurance? Eligibility and Fit Basics

Find out who typically needs life insurance, who may not, and what insurers require to approve an applicant, including age limits, insurable interest and health factors.

6 min read