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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Conversion Privilege


The privilege is about being able to "convert" your policy, which expires this month into a similar policy, which continues for 3 more years, or something like that. Conversion privilege is a big deal for people with dicey health issues as the policy can't be cancelled for health problem reasons (and premiums generally stay the same).