What option allows policyholders to increase their coverage without undergoing additional medical underwriting?

The conversion option allows policyholders to increase their coverage without the need for additional medical underwriting. This feature is particularly beneficial for individuals who may have experienced changes in health status that would complicate or prevent them from obtaining additional coverage through a standard underwriting process.

With a conversion option, policyholders can typically switch from a term life insurance policy to a permanent life insurance policy, usually within a specified period and under specific conditions. This ensures that they can maintain or increase their coverage limits without the risk of being assessed based on their current health situation, offering them peace of mind and financial security.

The other options, while relevant in the context of insurance policies, do not provide the same flexibility regarding medical underwriting. The guaranteed renewable option refers to the policyholder's ability to renew their policy without risk of denial but does not inherently allow for increasing coverage. The rider option involves adding specific benefits to a policy that generally requires extra payment but not necessarily more coverage without underwriting. The additional insured option modifies the policy to include another individual in the coverage but does not directly relate to the policyholder increasing their own coverage.