In order to do that, you have two options...

First, you would need to change the core code to do this for you.  NOT recommended.

Second, I would suggest doing this:  Create (build) a new module* that has the option to display either the Terms or Privacy Statement.  Once you have that created and installed, then put it on its own page(s).  Then, in your skin, replace the tokens that specify the link to those respective items with links to the new pages you added.  Upload your skin, and viola!  You've added this functionality with minimum effort and little to no ill effect when upgrading DNN. 

* Creating a module to do this is necessary if you are at all concerned with keeping the Privacy and Terms localized.  Otherwise, just copy and paste those statements into a Text/HTML Module.