See Exchange Privilege

A policy provision that is available if the employee's life insurance or a portion of it terminates which allows an employee to convert to an individual life insurance policy without evidence of insurability.

The right to convert from group to individual coverage or from individual term to permanent insurance without evidence of insurability.

Allows the policy-owner to elect to have a new policy issued that will continue the insurance coverage before an original life insurance policy expires.

A privilege provided to an insured person under a group insurance contract to change coverage to an individual policy, without evidence of medical insurability, upon termination of the group coverage. The conditions under which conversion can be made are defined in the master policy.  (A conversion policy will typically have fewer benefits than the group master policy.)

This is the right of an individual to convert from term to permanent insurance without evidence of insurability.

Allows the policy owner, before an original insurance policy expires, to elect to have a new policy issued that will continue the insurance coverage. Conversion is normally priced at the insured's attained age (premiums based on the age attained at time of conversion).

The privilege given in an insurance policy to convert to a different plan of insurance without providing evidence of insurability.

A policy provision that allows the policy owner to convert his or her policy to a term life insurance policy without providing medical evidence of insurability.

A policy provision that permits the policyowner to change from one type of policy to another without having to provide evidence of insurability (typically from a term insurance policy to a permanent insurance policy.

A certificate privilege that allows the insured to choose to convert from a group life policy to an individual policy before leaving the group to continue insurance coverage.

The right given to an insured person to change insurance without evidence of medical insurability, usually to an individual policy upon termination of coverage under a group contract.

A provision that allows the policyowner, before expiration of a term policy, to elect to have a new permanent policy issued that will continue the insurance coverage, without needing to provide evidence of insurability. Conversion may be effected at attained age (premiums based on the age attained at time of the conversion) or at the original age (premium based on age at time of original issue). If original age is selected, the policyowner must pay the difference in premiums between the old and the new policies and any interest due for the time and the old policy has been in force. The conversion privilege also generally is included in group insurance. It permits employees of company's whose group policies who are terminated for any reason to convert their certificates to permanent insurance at their attained ages.

The ability to change to a different insurance plan providing proof of insurability (for example, to change to an individual policy when group coverage ends).

Right to change from term to permanent insurance without insurability.

This allows the policy owner to convert a term policy to a permanent type of insurance, such as whole or universal life, before the term converts to annually renewable term.

Allows the policy owner, before an original insurance policy expires, to elect to have a new policy issued that will continue the insurance coverage. Conversion may be effected at attained age (premiums based on the age attained at time of conversion) or at original age (premiums based on age at time of original issue).

Right given to an insured person under a group insurance contract to change coverage, without evidence of medical insurability, to an individual policy upon termination of the group coverage. The conditions under which conversion can be made are defined in the master policy.

A contractual right you have that enables you to convert to individual policy when your group coverage terminates, even without providing evidence of insurability.

(1) A term life insurance policy provision that allows the policyholder to change (convert) the policy to a cash value insurance policy without providing evidence of the insurability of the insured. (2) A group life insurance policy provision that allows a group insured whose coverage terminates for specified reasons to convert his/her group coverage to an individual policy of insurance without presenting evidence of his/her insurability.

If included, this option allows employees who are terminating employment to continue some or all of their LTD coverage at their own expense without submitting evidence of insurability.

This is the right of an individual to convert a Group Health or Life policy to an individual policy should the individual cease to be a member of the group. Usually this can be done without a physical examination.

A privilege granted in an insurance policy to convert to a different plan of insurance without providing evidence of insurability.

The right to convert or change insurance coverage from an individual term insurance policy to an individual whole life insurance policy.

A contractual right given to an insured person whose group coverage terminates so that person is able to convert to an individual policy without providing evidence of insurability.

The right of an individual insured under a group policy to certain kinds of individual coverage, without a medical examination, upon termination of his association with the group.

The right to change insurance coverage in certain prescribed situations from one type of policy to another; for example, the right to change from an individual term insurance policy to a universal life insurance policy.

Term life insurance policies and group life policies normally contain this privilege that allows you to convert your term policy to a cash value policy during the term or upon separation from service.

This benefit allows the covered individual the opportunity to "convert" or exchange an existing term life insurance policy for a permanent or "whole life" policy without evidence of insurability. The conversion privilege protects an insured's ability to maintain insurance coverage when outside coverage may not be attainable due to significant health problems. Conversion privileges vary among insurance policies. In short, if all other things are equal, the policy offering the longer conversion period is usually the better the policy.

Allows the policy owner, before an original policy expires, to have a new policy issued that will continue the insurance coverage. Conversion may be be taken out at an attained age (premiums based on the age attained at time of conversion) or at the original age (premiums based on agent time of original issue).

Same as Exchange Privilege.