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To change a company one must shop first to find what coverage they may want to replace the other with. Cancel the old coverage first for if you don't you may wind up being billed for two policies. Collect any cash value from old policy. Then you may select new coverage.
To convert one coverage from another. Just advise the company that you want to convert your policy. If you have a term and want to convert to whole life is simple just tell the agent. You can convert term to whole life but not the contrary.
There are large areas for error in this process. Your broker needs to stay on top of things.
While the regulation can be onerous on the agent and the replacing company, it helps to protect the insured. The agent has to provide a side-by-side comparison of the new policy to the the existing policy and disclose all potential disadvantages to replacing the policy.