All of the following statements about the conversion of a term policy are true EXCEPT (Points : 1) Evidence of insurability is required before a conversion is permitted. Under an original age conversion, the policyowner must pay a financial adjustment in addition to the premium for the new policy. Most insurers require original age conversion to take place within a specified period (5 years, for example) of the issue of the term policy. Under an attained age conversion, the premium is based on the insured's attained age at the time of conversion.