Life Insurance Basics
What is life insurance portability?
Life insurance portability allows you to keep your group life insurance coverage when you leave your employer. Portable policies are converted from group to individual coverage. Portable coverage is typically more expensive than group coverage but less expensive than purchasing a new individual policy.
Key Points
- Portability: keep group life insurance coverage when you leave your employer
- Converted from group to individual coverage
- More expensive than group coverage
- Less expensive than purchasing a new individual policy
- An independent agent can compare portable coverage vs. new individual policy