Keeping Life Insurance After You know longer working
Dec 3, 2004
Hello, I would like to know if I worked for a Company for over 5 years, Can I keep the life Insurance that I brought into day of Employment? I would also want to know, if it is expensvie to do so.
Response from Ms. Franzoi
When you leave the company, you would be able to convert your group life insurance coverage to an individual policy with the same insurer. The cost will depend on your age and the type of policy you choose. The premium for the coverage will be more expensive than what you are currently paying. Check the conversion section in the summary plan description for your life insurance coverage for a detailed explanation on how to apply for conversion coverage.
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