conversion privilege
DefinitionAn insurance policy in which the insurer is required to renew the policy for a specified amount of time regardless of changes to the health of the insured. The agreement requires that premiums are paid on time and that the insurer makes no changes except if a premium change is made for an entire class of policyholders. also called guaranteed renewable or convertible term insurance or guaranteed insurability.
This content can be found on the following page:
conversion privilege is ...
... part of the Insurance subject.
... part of the Insurance subject.
Related Terms
conversion privilege appears in the definitions of these other terms on BusinessDictionary.com
Loading...
Featured Sponsor
| |







