conversion privilege


Also found in: Financial.

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.
Mentioned in ?
References in periodicals archive ?
Conversion privilege - a ManuTerm/ManuTerm rider policy can be converted without evidence of health to any Manulife whole life, endowment or investment-linked plan before age 65 (for the same coverage benefits only).
The ability of a conversion privilege and a departure from the APR to reduce the risk incentive is given by:
When making a term life insurance recommendation, agents should consider the issuing company's financial strength, the policy's conversion privileges, the policy's waiver of premium rider features and the ability of the policy's features to work simultaneously.
If the conversion privilege was exercised, Parent's increase in basis in the debenture would typically generate a tax loss on the subsequent disposition of the debenture.
Notice of the exercise of the conversion privilege must be received by Preferred Equity not earlier than December 1, 2014 and not later than 5:00 p.
Therefore, the parent would usually select noncumulative preferred stock without value supporting features (such as a conversion privilege into the common stock or a liquidation right).
To exercise their conversion right as a result of the Fundamental Change described above, holders must surrender the notes for conversion to the conversion agent at any time on or before July 6, 2010 and follow the applicable depository procedures or, in the case of notes in the certificated form, surrender the notes to the conversion agent with appropriate signatures, endorsements and transfer documents as described in the Indenture and in the Fundamental Change Company Notice and Notice of Conversion Privilege distributed to the holders of the notes and published on the Company's web site.
BNY Mellon Shareowner Services, the transfer agent, will provide the Depository Trust Company today with a notice of redemption and expiration of conversion privilege.
The Debenture carries a conversion privilege, at the option of the lender, into Units (Units) of the Company.
The Bank of New York, the Trustee, will mail today a notice of the specific terms of the maturity and expiration of conversion privilege and a form of conversion notice to all holders of record of the Notes.
Miller's health insurance policy with MMC, which has been extended under provisions of Federal law, guarantees him the right to convert his coverage with AETNA to a private policy, however that conversion privilege may not be exercised unless MMC issues him an eligibility form which MMC refuses to provide, in breach of fiduciary duty owed to Miller, the lawsuit alleges.
Super Preferred and Super Standard ratings are now available, along with a new conversion privilege at the earlier of the level premium period or age 70 without evidence of insurability to any cash-value policy offered by The Principal at the time of conversion.