Group Life Insurance — The Power of Coverage Through Work
If you’ve ever received life insurance through an employer or union, you’ve had group life insurance.
It’s a single contract that covers many people — often employees — under one umbrella.
How It Works
Group life insurance is usually yearly renewable term coverage, paid for by your employer (fully or partially). Coverage amounts often depend on your salary or job title.
If your employment ends, you typically have 31 days to convert your policy into an individual one — without needing to take a new medical exam.
The Advantages
Easy to get — no medical questions
Affordable rates, especially for large groups
Often includes accelerated benefits if you face a terminal illness
The Disadvantages
Coverage usually ends when employment ends
Benefits might not be enough for full family protection
You can’t customize much
Tip for retirees:
When you leave a job, ask your HR or benefits department about converting your group life policy — it can be a valuable bridge to permanent coverage.
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About Pivotal Life Insurance
Pivotal Life Insurance is a family owned, independent insurance agency that focuses on income protection and family security through Life Insurance products (Term Life, Whole Life, Final Expense, Pre-Need), Mortgage Protection and Annuities. With a range of product offerings, we accommodate the varying needs of our clients through resources provided by the nation’s top rated carriers. Although we are headquartered in South Florida with a branch in Maryland, we service most of the United States as our agents are licensed throughout the country. Pivotal Life Insurance is one of the fastest-growing agencies and we pride ourselves in putting you, our customers, first.
Insurance Is Pivotal. Cherish what’s important.
For more information or if you’d like to join the Pivotal family, visit www.insuranceispivotal.com or call at 561-412-5500.
