Yes, many term life insurance policies offer a conversion option that allows you to convert your term life insurance into a whole life insurance policy without undergoing a medical exam or proving insurability. This option is typically available during a specific period, often within the first 5 to 10 years of your term policy. Converting to whole life insurance can provide lifelong coverage and build cash value over time. However, it’s important to review the terms of your policy, as the conversion option may have certain restrictions, such as age limits or specific policy types. Additionally, while you won’t need a new medical exam, the premiums for whole life insurance are generally higher than term life insurance due to its permanent nature. It’s a good idea to check with your insurer for detailed information on how the conversion process works and any associated costs.