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@moneymoneymoney We're going through the process with our advisor and Insurance company, will post here when we know more.

A quick update on this: I have now found more correspondence prior to setting up the policy. In particular, there is one letter with quotations from 6 providers. One quotation is provided in detail, it summarises the options, and states 'Convertible : Yes'. This one was at the exact price with...

Thank you all for your helpful replies, and questions .. @SBarrett The business was transferred to another advisor, and he confirmed that he also has a copy of the letter. According to him the 'Continuation Option' wasn't selected on the application form but I'll double check that with the...

Anyone out there with any thoughts on this? Have we a leg to stand on?

We (my wife and I) are coming near the end of the 20 year term of a Life Insurance Policy. We're considering our options at the end of our policy, whether to continue or take out a new policy, etc. It's quite a while (15 years+) since we took out the original policy, and obviously don't recall...