Which term feature lets the owner switch to permanent coverage without evidence of insurability?

The term feature that allows the owner to switch to permanent coverage without the need for evidence of insurability is referred to as "convertible." This option provides significant advantages to the policyholder, as it grants them the flexibility to transition from a term life insurance policy, which typically provides coverage for a specified period, to a permanent life insurance policy, which offers lifelong protection and potentially grows cash value over time.

This feature is particularly valuable because, if the insured's health deteriorates during the term period, they would generally face difficulties in obtaining new coverage or may have to deal with higher premiums if they switch to a different policy. With the convertible option, the insured can exercise their right to convert without having to provide evidence of insurability, essentially locking in their coverage at the health status they had when they originally took out the term policy. This protection against potentially unfavorable health developments ensures that they can obtain more comprehensive coverage when needed.