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Can I convert a Northwest Mutual Variable Life Insurance policy to a Term Life Insurance Policy?

I signed up for the expensive Variable Life Insurance policy when I was making lots of money. Now that my earnings have dropped, the Variable plan is too expensive. I have some health issues which will prevent me from getting a reasonable rate on a new term life policy. Is it likely that NW Life will allow me to convert to term at the "health standard" that they used to sign me up 15 years ago?

Public Comments

1. No. Their contracts do not allow that. I haven't heard of any company that would allow you to convert a permanent policy to a term policy. It goes the other way around. You should have some flexibility within the policy to adjust the premium and face amount that you currently have, that may be able to help your situation. Please let me know if you have any questions.