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.
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Conversion policy means a policy providing coverage under the conversion
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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...
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Examples of Conversion policy in a sentence

  • Each January, employees may convert up to 30 hours of total combined leave balances to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 250 hours of total combined leave balances.

  • Each January, employees may convert up to 30 hours of total combined leave balances to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 350 hours of total combined leave balances..

  • Each January, employees may convert up to 30 hours of total combined leave balances to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 350 hours of total combined leave balances.

  • Each January, employees may convert up to 30 hours of Universal Leave to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 350 hours of Universal Leave.

  • Each January, employees may convert up to 30 hours of total combined leave balances to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 160 hours of total combined leave balances.

  • If coverage with this plan should terminate, you may be eligible to purchase an individual Conversion policy.

  • Each January, employees may convert up to 30 hours of total combined leave balances to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 350250 hours of total combined leave balances.

  • Each January, employees may convert up to 30 hours of total combined leave balances at the regular rate of pay to reimburse for eligible medical expenses under the same rules as the existing Sick Leave Conversion policy as long as the employee’s balance does not fall below 160 hours of total combined leave balances.


More Definitions of Conversion policy

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.
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