Conversion policy definition

Conversion policy means a policy providing coverage under the conversion provisions required in Chapter 22, Part 7, Group Accident and Health Insurance.
Sample 1Sample 2Sample 3
Conversion policy means a policy providing coverage under the conversion
Sample 1Sample 2Sample 3
Conversion policy means a policy providing coverage under the conversion provisions required in Title 31A, Chapter 22, Part VII, Group [Disability] Accident and Health Insurance.
Sample 1

Examples of Conversion policy in a sentence

  • Q: What is my policy effective date?A: The effective date of a Life Conversion policy is the 32nd day following the group coverage termination date.

  • The above requirement shall not apply to retired employees who are using accumulated sick leave to pay for insurance coverage under the Retirement Sick Leave Credit Conversion policy.

  • Premiums for a Life Conversion policy are substantially higher than your Employer Group plan rates.PortabilityUnder the Portability option you may obtain a group life insurance policy to continue 100%, 75%, or 50% of the amount of life insurance coverage (Basic, Supplemental, or both) you had under your Group plan up to a maximum amount, generally$250,000 depending upon the provisions of your Group plan.

  • Limits on the Amount of Individual Life Insurance That May Be ObtainedThe amount of insurance You may select under the Conversion policy is subject to the following limits.

  • Conversion policy premium rates may not exceed by more than 35% the index rate for small employers with similar case characteristics for any class of business in which the policy form has been filed.

  • It may not include any provision for disability, waiver of premium, accelerated death benefits, accidental death or other special benefit.Limits on the Amount of Individual Life Insurance That May Be Obtained The amount of insurance that the Dependent may select under the Conversion policy is subject to the following limits.

  • Conversion policy effective date The individual policy will take effect at the end of the 31 days allowed for conversion.

  • Conversion Coverage: After continuation coverage expires, you may be eligible to elect an individual Conversion policy, if your group health plan has such an option.

  • ORSpecial Enrollment Period/Limited Open Enrollment Period:Coverage will be effective based on the applicable laws defined for each Special Enrollment Period or Limited Open Enrollment Period.ORIn the case of HIPAA coverage or a Conversion policy, on the Effective Date indicated on this Application.

  • The effective date of Portability, or a SAAD&D Conversion policy is the day following the group coverage termination date.


More Definitions of Conversion policy

Conversion policy or "Conversion Contract") shall mean (i) such MONY life insurance and/or annuity contracts as MONY is obligated to make available to such owners and (ii) such other life insurance and/or annuity contracts issued by MONY and/or any of its affiliated insurance companies. The Wholesale Servicer shall have the exclusive right to distribute Conversion Policies and Contracts to the Brokers-of-Record and each Broker-of-Record shall have the exclusive right offer to sell Conversion Policies and Contracts to its customers who are the owners of the MONY Policies and Contracts. The MONY Parties shall not offer Conversion Policies and Contracts directly to the owners of the MONY Policies and Contracts or authorize, permit or pay compensation or other sums to any other retail or wholesale insurance agent, insurance agency and/or broker/dealer in connection with the sale of Conversion Policies and Contracts to the owners of the MONY Policies and Contracts. The Wholesale Servicer will provide wholesale level services, including payment of compensation, with respect to all Conversion Policies and Contracts sold to the owners of the MONY Policies and Contracts in accordance with the terms and conditions of this Agreement (and the term "MONY Policies and Contracts" shall include Conversion Policies and Contracts for such purposes), and the Brokers-of-Record will be permitted to continue to service the Conversion Policies and Contracts pursuant to the In-Force Retail Sales Agreement. The MONY Parties will pay first year and renewal compensation to the Wholesale Servicer on all Conversion Policies and Contracts sold to owners of MONY Policies and Contracts that is consistent with the commission paid by the MONY Parties in accordance with their then-current practice, provided that, in the case of Conversion Policies and Contracts issued by an affiliated insurance company of MONY, the Wholesale Servicer shall receive from such affiliated insurance company compensation consistent with the commission paid by such affiliated insurance company of MONY in accordance with its then-current practice and the Wholesale Servicer shall enter into selling agreement with such affiliated insurance company providing protections to such affiliated insurance company that will issue the Conversion Policy or Contract substantially similar to the protections provided to MONY hereunder; provided that such selling agreement shall also include obligations of such affiliated insurance company substanti...
Sample 1

Related to Conversion policy

  • Write-Down and Conversion Powers means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.

  • Conversion Schedule means the Conversion Schedule in the form of Schedule 1 attached hereto.

  • Best Execution Policy means the Company’s prevailing policy available at the Company’s Website regarding best execution when executing client orders;

  • Mandatory Conversion shall have the meaning set forth in Section 6.