Safe Harbor TermTM Conversions

Safe Harbor TermTM Conversions

When your clients need permanent insurance, Term Conversions present a great opportunity.

During the conversion period, Safe Harbor Term policies may be converted to a permanent policy without new medical requirements. Upon conversion, the new policy will have the same underwriting classification as under the term product. All non-tobacco and tobacco underwriting classes will be converted to the Remembrance Life preferred (non-tobacco) and standard (tobacco) underwriting classes, respectively.

This section contains the links to resources necessary to provide quality and timely service to your clients.

Safe Harbor Term Conversion Periods

Product In the first year
10 year 5 years
15 year 7 years
20 year 10 years
30 year 10 years

Commissions

Commissions will be paid on 50% of the new first year premium if the conversion is in the first two years. If the conversion is in year three or later, we will pay the full commission on the new premium.

Permanent Products Currently Available For Conversion

Term Product Permanent Product
Safe Harbor Express 10,15, 20 or 30 year Nassau Remembrance Life
Safe Harbor 10, 15, 20 or 30 year

Things you should know

Be sure to review product materials for information regarding the permanent product you are applying for.

The new policy will be issued with any riders available for that plan. Any riders on the policy being converted do not necessarily carry over upon conversion. For example, a Safe Harbor policy being converted to Remembrance will be issued without any Accelerated DBR’s.

Need to Talk to Someone?

Please call us at 1-800-541-0171. Available Monday - Friday, 8:30 a.m. to 5:00 p.m. ET.