Kentucky Sample Letter for Notice of Order of Conversion
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How to fill out Sample Letter For Notice Of Order Of Conversion?
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FAQ
A conversion clause is a section of a life insurance contract that allows policyholders to convert their term life insurance policy to a permanent form of life insurance. Conversion clauses may allow a policyholder to maintain coverage without presenting new evidence of their insurability.
What is the conversion privilege? The right of an individual insured under the Group Life Insurance policy to replace all or part of his/her Life Insurance Benefit with an individual policy if all or part of his coverage under the group policy terminates.
Definition: A conversion policy is an individual health insurance policy that you may be able to get after losing group coverage. A health insurance issuer may allow you to "convert" to an individual policy once you have lost group coverage, but typically only after exhausting COBRA or State Continuation.
Agencies give this form to employees and assignees when the employee's life insurance coverage ends due to separation, resignation, retirement, death, or the end of 12 months in non-pay status.
Notice of Conversion means the notice to be given by a holder of Preferred Securities to the Conversion Agent directing the Conversion Agent to exchange such Preferred Securities for Securities and to convert such Securities into Common Stock on behalf of such holder.
