Accelerated death benefit provides insured the option to receive some amount of his term life insurance early, in case he falls terminally ill. This can help the insured or their family to pay for medical expenses, hospice and other services used to extend the life of the policyholder.
Conversion Benefit helps the insured with a rare option to convert his term life insurance into an approved permanent life insurance from the same provider. This helps the insured from making another application or going for another medical examination to prove insurability.