What aspect of conversion privilege remains effective after an employee's termination?

The ability to convert to an individual policy without the need for insurability is a key aspect of conversion privilege that remains effective after an employee's termination. This provision ensures that employees who lose their group coverage can secure individual coverage without having to demonstrate medical underwriting or health eligibility. This is particularly important because it allows individuals who might have pre-existing conditions or other health issues that could preclude them from obtaining coverage in the individual market to still have access to insurance.

Conversion privilege serves as a protection for employees, providing them with a crucial option to maintain their health insurance coverage without facing gaps in protection or needing to undergo a complicated application process. This feature is especially beneficial when transitioning between different employment situations or when leaving a job.

In contrast, the other aspects mentioned are not guaranteed under the conversion privilege. There is generally no fixed term (like 6 months) for receiving benefits under the converted policy; the premiums for the converted policy can vary and may not necessarily increase; and the terms of the original group policy may not be maintained in the converted individual policy.