What is a significant benefit of most term insurance policies?

A significant benefit of most term insurance policies is that they are often convertible to a cash-value policy. Term insurance generally offers coverage for a specified period, which is often less expensive than permanent policies because it doesn't accumulate cash value over time. However, many term policies include a conversion option that allows policyholders to convert their term insurance to a whole life or universal life insurance policy, which does accumulate cash value. This feature provides flexibility for the policyholder, as it allows them to maintain coverage in the long term while also transitioning into a policy that can build cash value if their needs change. This conversion option is advantageous for individuals who may want the initial lower cost of term insurance but later desire the benefits associated with permanent policies.