Will I lose my employer-paid life insurance policy if I change jobs?


Any life insurance you have through your employer - whether you pay for it, or your employer does - will end when you leave your job (either on that day or the end of the month - check with your Human Resources department). You’ll be given the option to convert that insurance into an individual policy; however, you’ll pay significantly more for that coverage because it is a non-underwritten policy.

If you have medical conditions that prevent you from obtaining an individual policy, consider converting your group life insurance, as it’ll ensure you have coverage. You must decide quickly, since you typically have 30 days from the date your employment ends (or the end of the month that your employment ended, depending on the rules) to make that choice.

If you want to see if you can get an individual policy, apply for it two months prior to your employment ending.