I'm 50 with a term life policy that expires when I'm 60. Should I convert to whole life, and if so, when? 
If the only conversion option your policy offers is Whole Life , the rate is probably going to be quite a bit higher than if you take out a new , no lapse , Universal Life policy . However , when you convert Term Life , you are rated the same on your Whole Life that you were rated on your Term policy . So if your health has declined , you may be getting a good deal by converting . If it has not declined , I personally would check out a new policy to see how much you can save . As to when to convert , it depends on several factors . 1 . HOW MUCH you want to convert . If you want to convert it all , it may be a good idea to do it now , while rates are lower . They will go up quite a bit over the next 10 years . 2 . YOUR HEALTH . If you have very poor health , you may just want to pay those low Term rates another 10 years . If you have excellent health , it might be a good time to convert or look at what else you can get in a permanent policy . 3 . WILL YOU NEED LIFE INSURANCE after age 60 ? By the time you are 60 you should have a good idea of whether you will need that much coverage . You have some time to get a feel for how your retirement is going to pan out before you make this big decision . You can not reverse it and go back to Term , once you have converted your policy . Please feel free to contact me to help you ascertain what prices are out there for you , or help you figure out what direction to go . Best wishes . 