A conversion option allows you to change a(n) policy to a(n) coverage life policy.

In insurance terminology, a conversion option typically allows policyholders to convert their term life insurance policy into a permanent life insurance policy, such as whole life or universal life. This feature is beneficial for individuals who initially choose term coverage for its lower premiums but later decide they want the lifelong coverage that permanent policies offer.

The conversion allows the insured to bypass the requirement of medical underwriting, which means they can switch to a permanent policy without undergoing any additional health assessments, regardless of their current health status. It's crucial for policyholders to review their specific policy details to understand the terms, conditions, and timelines associated with this conversion option. Additionally, they should consider factors like premium costs, benefits, and insurance needs when making this decision.