Common use of Conversion Privileges Clause in Contracts

Conversion Privileges. An insured employee whose employment terminates has a 31-day period in which to convert all or a portion of his insurance to a term life insurance policy. This individual policy will be issued without medical examination. The individual policy will become effective 31 days after termination of his group life insurance. However, if death should occur during this 31-day period, the benefit under the group policy will be payable.

Conversion Privileges. An insured employee unit member whose employment terminates has a 31-day period in which to convert all or a portion of his his/her insurance to a term whole life insurance policy. This individual policy will be issued without medical examination. The individual policy will become effective 31 days after termination of his group life insurance. However, if death should occur during this 31-day period, the benefit under the group policy will be payable.

Conversion Privileges. An insured employee unit member whose employment terminates has a 31-day period in which to convert all or a portion of his his/her insurance to a term life insurance policy. This individual policy will be issued without medical examination. The individual policy will become effective 31 days after termination of his group life insurance. However, if death should occur during this 31-day period, the benefit under the group policy will be payable.