Which of the following is TRUE concerning the conversion of group life insurance coverage to an individual policy?

This statement is inaccurate because the option to convert group life insurance to an individual policy typically applies only under specific circumstances, such as termination of employment or when the group policy ends, rather than whenever life insurance coverage terminates.

This option is misleading because the conversion policy is not automatically a paid-up policy. Instead, the insured must typically pay premiums for the new individual policy, and it does not become paid-up simply due to the conversion process.

This statement is incorrect because the premiums for the individual conversion policy are usually higher than those for the group policy. Factors like the insured's age and health at the time of conversion can result in increased costs compared to the original group coverage.