May be defined in two ways: (1) The right, which an individual has, under certain circumstances to change coverage (e.g. change from an individual term policy to an individual whole life policy). (2) The right of an individual covered by an organization policy to change his or her coverage under an individual insurance policy. Typically, this kind of conversion may be made when a person leaves the group or the benefits are downgraded or ended for a certain group of people.

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