Your Job’s Life Insurance Isn’t Forever — Here’s What to Know
If you get life insurance through your employer, that’s called group term life insurance.
It’s an amazing benefit — often free or very inexpensive — but many people don’t realize it expires when your employment ends.
How Group Term Life Works
Your employer signs a single contract with an insurance carrier of their choice that covers everyone on the team.
The company pays all or part of the premium.
You’re automatically enrolled after a waiting period (usually 30–90 days).
You’re covered only while you’re employed and active.
If you retire, quit, or are laid off, that coverage typically ends 31 days later. Some companies allow you convert your group policy to an individual one, but that must be done quickly — but prepare for higher premiums.
What You Can Do
Check your coverage amount. Many group policies only offer 1–2x your salary — which many not be enough for full family protection.
Ask about conversion options. You usually have a 31-day window to switch to an individual policy without a medical exam.
Consider personal coverage. A small, affordable term or whole life policy ensures you stay protected — even between jobs.
Bottom line:
Group term life is a great workplace perk — but it’s temporary. If you want peace of mind that lasts, add your own coverage while you’re still healthy and employed.
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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.
