In Group Insurance, the Conversion Privilege Allows an Insured to Convert

question 14

True/False

In group insurance, the conversion privilege allows an insured to convert from a whole life to a term policy.

---

Definitions:

Fixed Cost

Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, or insurance.

Competition-oriented

Focused on outperforming rivals in a market by differentiating products, services, or business practices.

Customary Pricing

Setting prices based on what is traditionally expected or accepted within a market or by customers.

Target Pricing

A pricing strategy where the selling price of a product is determined based on the anticipated consumer demand and desired profit margin, often before the product is launched.