attained age conversion

attained age conversion definition - business

attained age conversion

Conversion from one type of life insurance coverage to another type of coverage at the premium appropriate to the age of the insured person at the time of the conversion. For example, converting a term policy to a whole life policy will entail a premium rate based on the age of the insured person when the conversion occurs.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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