Group Benefits

Here again, timing is critical. Depending on the conditions of your severance package, you may lose coverage of your group benefits within 30 days – or the opportunity to continue them at standard rates – unless you act right away.

It is often possible to convert an existing group life insurance to a personal policy without proof of health. This is a particularly valuable option if you have serious health issues which might make you otherwise uninsurable, or insurable only at high rates. On the other hand, if you are healthy, it may be more cost-effective to shop around.