A semiconductor component includes a die having a pattern of die contacts, and interconnect contacts bonded to the die contacts and encapsulated in an insulating layer. The component also includes terminal contacts formed on tip portions of the interconnect contacts. Alternately the component can include conductors and bonding pads in electrical communication with the interconnect contacts configured to redistribute the pattern of the die contacts. A method for fabricating the component includes the steps of forming the interconnect contacts on the die contacts, and forming the insulating layer on the interconnect contacts while leaving the tip portions exposed. The method also includes the step of forming the terminal contacts on the interconnect contacts, or alternately forming the conductors and bonding pads in electrical communication with the interconnect contacts and then forming the terminal contacts on the bonding pads.