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convertible insurance

American  

noun

  1. any form of life or health insurance, either individual or group, that enables the insured to change or convert the insurance to another form, as term to whole life insurance or group to individual health insurance.

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.