Life Insurance FAQ
Does my employer's life insurance cover me if I quit?
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The short answer
Employer group life insurance generally ends when you leave your job. Some employers let you convert the coverage to an individual policy within 30 to 60 days, or you can take COBRA for a limited time. Since employer coverage often disappears the day you quit, buying your own policy before you leave avoids a gap.
What happens to group coverage
Most group life insurance is tied to your employment, so coverage stops when you leave, whether you resign, retire, or are let go. In many cases it ends on your last day of work.
You may be offered conversion, which lets you turn your group coverage into an individual policy without a medical exam, but you must act within the window, usually 30 to 60 days. Group policies may also let you continue temporarily under COBRA, though this is more common for health insurance than life.
The risk of relying on employer coverage
Employer life insurance is often a multiple of your salary, such as one or two times pay, and it disappears with the job. It is also not portable, and losing it while older or less healthy means your next policy costs more or is harder to get.
Because group coverage usually ends with the job, a personal policy you own is the only coverage guaranteed to follow you.
Avoid the gap
Before you resign, apply for an individual term policy so it is in force before your employer coverage lapses. If you have health changes, conversion of your group policy can bridge you at a guaranteed rate, then you can shop for better pricing.
Related questions
Can I keep my employer life insurance after leaving?
Often yes, through conversion, within a limited window after you leave, usually 30 to 60 days. Converted policies require no medical exam but may carry higher premiums than a comparable individual policy.
Is employer life insurance portable?
Usually not. Group life insurance is tied to your job and generally cannot be taken with you. Conversion to an individual policy is the main exception, and it only lasts if you keep paying the premium.
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