Conversion Privilege

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Definition: Conversion Privilege

Conversion Privilege
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What is the dictionary definition of Conversion Privilege?

Dictionary 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 premiums are paid on time and that the insurer makes no changes except if a premium change is made for an entire class of policyholders. also called guaranteed renewable or convertible term insurance or guaranteed insurability.

Related Phrases

straight bond

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/conversion-privilege/
Modern Language Association (MLA):
Conversion Privilege. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 19, 2024 https://payrollheaven.com/define/conversion-privilege/.
Chicago Manual of Style (CMS):
Conversion Privilege. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/conversion-privilege/ (accessed: April 19, 2024).
American Psychological Association (APA):
Conversion Privilege. PayrollHeaven.com. Retrieved April 19, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/conversion-privilege/

Definition Sources

Definitions for Conversion Privilege are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd October, 2021 | 0 Views.