Which of the following is a standard provision of the conversion privileges in a Group Life policy?

The provision regarding conversion privileges in a Group Life policy allows a policyholder to convert their group insurance coverage into an individual policy under certain conditions. One of the key features of this standard provision is that the converted individual policy is issued at regular rates based on the insured's attained age. This means that the premium for the new individual policy will be calculated based on the age of the insured at the time of conversion, rather than being based on their age at the original time the group policy was issued.

This provision is designed to ensure that individuals who lose their group coverage due to events such as changing jobs or other qualifying criteria still have access to life insurance without having to undergo a new medical examination. The emphasis is on making it easier for the former group members to maintain their insurance coverage as they transition from group to individual policies.

The other options do not accurately reflect the standard provisions: Conversion typically must occur within a specified period, often 31 days rather than 90 days; conversion does not solely depend on the termination of employment as there may be other qualifying events; and conversion is usually not subject to a medical exam, allowing individuals to obtain coverage regardless of their health status at the time of conversion.