google bot detected Original Age Conversion | Insurance Glossary |

Original Age Conversion

Definition of "Original age conversion"

Shannon Johnson
  Island Realty of the Lowcountry

Same as term Original Age: insured's age at the date a term life insurance policy is issued. An original age or retroactive conversion option permits the insured to convert the term policy to a cash value policy as of the original date of issue. Conversion is made without a physical examination, but a correction factor is charged to reflect the difference in premiums between the policies that would have been payable beginning at the original date of issue. This difference is accumulated at interest to reflect the time value of money.

Related Real Estate Glossary terms

Related Real Estate FAQ