The right to change (convert) insurance coverage from one type of policy to another. For example, the right to change from an individual term insurance policy to an individual whole life insurance policy.

Definition An 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 premi [..]

May be defined in two ways: (1) The right, which an individual has, under certain circumstances to change coverage (e.g. change from an individual term policy to an individual whole life policy). (2) [..]

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.

The right to change insurance coverage in certain situations from one type of policy to another, such as the right to change from an individual term insurance policy to an individual whole life insurance policy or universal life insurance policy.

The ability to convert a term life insurance policy into a permanent policy, usually without a medical exam or proof of insurability.

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.

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.