MetLife’s External Term Conversion Program


The MetLife External Term Conversion Program allows individuals who purchased term life insurance from selected insurance carriers to convert their term life policy to a permanent policy offered by MetLife. Your life insurance carrier may not have the array of permanent life insurance products that MetLife offers, however, you may be eligible to participate in the MetLife External Term Conversion Program. Clients who own an in-force term policy issued standard or better in the last 60 months by one of the approved companies are generally eligible for the program.

The following guidelines must be followed to exercise this valuable program:

Minimum face amount for conversion is $100,000 with a maximum face amount of $1,000,000

Rating class must be standard or better

No partial conversions are permitted

Preferred Non Smoker is the best classification with conversion

Insured’s issue age must be 18-65 on the new permanent product

The term policy must be in force and premium paying. No policies on disability waiver of premium are allowed

The term policy must be within the contractual conversion period

Only fully underwritten term policies issued under normal underwriting rules are eligible

The original term policy must be submitted, no declaration of lost polices are acceptable. Full duplicate polices are acceptable

No collaterally assigned policies are eligible for this program

This program is not available to residents of New York.

Why would an individual, who purchased term life insurance within the past 5 years, have an interest in converting their term policy to a permanent policy with a different insurance carrier? Individual’s circumstances change. There may be more expendable money to be able to afford permanent insurance. There are health changes leading to the desire to have permanent insurance. The current term life carrier may not offer the type of permanent life insurance products that MetLife offers.

About the author:  Ken Buccico holds a LUTC designation and has been in the life insurance business for 39 years. His wealth of experience empowers clients to make best possible decision regarding a life insurance policy. To explore the best life insurance option, contact Ken at 1-800-651-1953 or