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conversion privilege

   Also found in: Financial 0.01 sec.
conversion privilege,
n the right of an individual covered by a group dental insurance policy to continue having coverage on a direct payment basis when association with the insured group is terminated.
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Conversion Policies for Term Life Insurance In the case where you may become ineligible for level term life insurance renewal or if you decide that you would prefer to take advantage of the benefits offered by permanent life insurance programs, many term policies offer a conversion privilege for a certain period of years.
The Basics of Level Term Life Insurance by Elizabeth Jean / Family and marriage community
Most group insurance plans have a conversion privilege," McLellan said.
Buying life insurance makes sense at any age by Black, Joan / Wind Speaker
Although most group life policies provide term coverage, most states require a conversion privilege allowing employees to convert their policies to permanent insurance and pay premiums directly to the insurer when they leave their job or organization.
EXPERTS OFFER TIPS ON LIFE INSURANCE BECAUSE IT'S GONNA HAPPEN by Daily News (Los Angeles, CA)
 
 
 
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