Common use of Conversion Option Clause in Contracts

Conversion Option. When an employee terminates, Dependent Life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to termination. The premium of such policy shall be at the current rates of the insuring company. Application for the converted policy must be made within thirty-one (31) days of the date of termination of insurance.

Conversion Option. When an employee terminates, Dependent Life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to termination. The premium of such policy shall be at the current rates of the insuring company. Application for the converted policy must be made within thirty-one (31) days of the date of termination of insurance.insurance.‌

Conversion Option. When an employee terminates, Dependent Life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to terminationtermination and the employee must have been insured under this policy for at least five (5) continuous years. The premium of such policy shall be at the current rates of the insuring company. Application Written application for the converted policy conversion must be made to the carrier’s Head Office within thirty-one (31) days of after the date of termination of insurance.

Conversion Option. When an employee terminates, Dependent Life life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to termination. The premium of such policy shall be at the current rates of the insuring company. Application for the converted policy must be made within thirty-one (31) days of the date of termination of insurance.

Conversion Option. When an employee Employee terminates, Dependent Life Insurance on a spouse may be converted to an individual policy which may be obtained without evidence of insurability and providing coverage for the same amount for which the spouse was insured as a dependent prior to terminationtermination and the Employee must have been insured under this policy for at least five (5) continuous years. The premium of such policy shall be at the current rates of the insuring company. Application Written application for the converted policy conversion must be made to the carrier’s Head Office within thirty-one (31) days of after the date of termination of insurance.