Which of the following individual policy conversions is usually permitted without any evidence of insurability?

The conversion from a term policy to a whole life policy is typically permitted without any evidence of insurability due to the terms of most term life insurance policies. This feature is often included in term life insurance policies to provide policyholders the opportunity to convert their coverage as they age or if their health status changes. The underlying purpose is to ensure that individuals can maintain life insurance coverage even as they move to a more permanent solution, like whole life, regardless of their current health condition.

This conversion right is a valuable benefit because it allows policyholders to change their insurance coverage without undergoing medical examinations or providing additional proof of insurability, which can be beneficial given that health conditions may arise over time. The other options describe conversions that typically require new underwriting processes or different considerations, as they may involve policies with varying structures or intended purposes, often precluding a straightforward conversion without proof of insurability.