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" CONVERSION PRIVILEGE. CONVERSION BENEFITS GENERAL BENEFIT. An individual life policy, known as a conversion policy, may be purchased from the Company vithout evidence of insurability, if all or part of anyone's life insurance, provided by this Policy, terminates for any reason except: (1 ) (2) termination or amendment of the Policy; or the Insured Person's request for: (a) termination of insurance; or (b) cancellation of payroll deduction. To purchase a conversion policy, application and payment of the first premium must be made within 31 days after the life insurance is terminated. Any policy issued under the General Conversion Benefit will: (1) be for an amount not to exceed the amount of the life insurance which was terminated; (2) be on any form (except term) then issued by the Company at the age and amount for which application is made; (3) be issued at the Insured Person's age at nearest birthday; (4) be issued without disability or other supplemental benefits; and (5) require premiums based on the class of risk to which the person then belongs, CONVERSION BENEFIT-POLICY TERMINATION OR AMENDMENT. A conversion policy also may be purchased from the Company if: (1) all or a part of anyone's insurance terminates due to amendment or termination of this Policy; and (2) that person has been covered continuously under this Policy for at least five years. Any conversion policy issued due to Policy termination or amendment will be subject to the same conditions as a policy issued under the General Conversion Benefit except its amount may not exceed the lesser of: (1) $10,000; or (2) the Amount of Life Insurance which terminates less the amount of any group life insurance for which the Insured Person becomes eligible within 31 days after the termination. PROVISIONS APPLICABLE TO ALL CONVERSION POLICIES ..:FFECTIVE DATES. The coverage provided by a conversion policy issued under this Section will be effective on the later of: (1) its date of issue; or (2) 31 days after the date on which the person's life insurance terminated. DEATH DURING CONVERSION PERIOD. The Company will pay a death benefit under this Policy equal to the amount of the life insurance which could have been converted, if the person: (1) was entitled to purchase a conversion policy; and (2) dies within the 31 day conversion period, This death benefit will be paid even if no one applied for the conversion policy. If the first premium was paid for the conversion policy, the amount of the premium will be refunded and the conversion policy will be void, NOTICE OF CONVERSION PRIVilEGES-INSURED PERSONS. When an Insured Person's Personal Insurance terminates, written notice of the right to convert will be: (1) given personally to the Insured Person; (2) mailed by the Group Policyholder to the Insured Person at his last known address; or (3) mailed by the Company to the Insured Person at his last known address as furnished by the Group Policyholder. An additional period in which to convert will be granted if this written notice is not given to the Insured Person at least 15 days before the end of the 31 day conversion period. Any such extension of the conversion period will expire on the earliest of: (1) 15 days after the Insured Person is given the written notice; or (2) 60 days after the end of the 31 day conversion period even if the Insured Person is never given such notice, No death benefit will be payable under this Policy after the 31 day conversion period has expired even though the right to convert may be extended, GL1101-10 DEP, 15 05101/01