[Ashley]

I recently left my professional services job which allowed me to obtain over $2.5M (me) and $500K (spouse) term life insurance via payroll deduction.

When I terminated employment, the insurance company reached out with an offer to continue coverage.

I called and it was a complete scam – they were only going to offer whole life.

I said I am only interested in term and if they aren’t interested, I’m out.

Headline: they were not interested.

[Sean]

And this is why you don’t buy life or disability insurance through work unfortunately.

[Jeffery]

I’m not sure off hand the exact regulations, but I’m pretty certain a group term policy can only be converted to a permanent policy.

[Tammy]

Several years ago, I was surprised to learn I could buy a 20-year term private life insurance policy for a lower monthly premium than the year-to-year coverage offered through my former employer.

[Cindy]

Not a scam. Pretty standard since you’re leaving group life insurance. If you want something equivalent, term to term, then it’s always best to buy an individual plan anyway.

That way you will always have that regardless of where you are employed or whether you are employed.

[Josh]

You most likely don’t qualify for term off age or other criteria they have.

[Faith]

Most people still qualify for term until age 65ish and around that it just depends on age.

I’ve been able to help lots of people with term policies!

[Author]

Posts