The bottom line Is converting group life insurance expensive? It can be, because conversion moves you to an individual policy and the new premium may exceed the old group-term premium. The NAIC says premiums for converted coverage are higher than the term premium you had before, while your certificate controls the deadline and available policy … Read more

What happens to group life after leaving? In most cases, coverage tied to your job ends or changes when employment ends, so check your certificate for conversion or portability deadlines before your last day. Key facts Employer group life is usually tied to the employer’s plan and active employment. The certificate controls the exact end … Read more

The bottom line Can employer life insurance follow me? Usually not automatically. Coverage tied to a job may end when your employment or plan eligibility ends, but your certificate may offer conversion or portability. Check the deadline and premium before you leave so a coverage gap does not surprise your household. Key facts Employer group … Read more

The bottom line The coverage gap between employer life insurance and real need is what your household would still have to replace after you count the workplace death benefit, savings, debts, and future expenses. Employer coverage can help, but its amount, portability, and conversion rights depend on the plan documents and applicable state rules. A … Read more

The bottom line Can suspended officers keep employer life insurance? The answer depends on the group policy’s active-employment and premium rules. A paid suspension may be treated differently from an unpaid suspension, so ask the plan administrator whether coverage is still in force and request any conversion or portability deadline in writing. Key facts A … Read more