;

Open enrollment

Life insurance terminology shouldn't be confusing. Here is the definition of open enrollment.

Open enrollment

The period each year where employees can make changes to the benefits purchased from the employer. During this time, employees can enroll or waive health insurance, life insurance, add or remove dependents -- without providing proof of other coverage.

For example: ABC company has designated March 1st as the last day for open enrollment encouraged to sign up for a group policy.

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