Long Term Disability - Life Insurance?
If you were no longer able to work and went on short and then long term disability from your job and then you die, is your family still eligible for life insurance that you had through your employer?
Public Comments
- Depends on the plan you had but typically no. If you had a group plan it usually stipulates that you must be a full time employee working 'X' number of hours a week. Some small employers have individual plans that you can continue paying once you leave. Check with your HR department or call the insurance carrier if you know who it is. You should always own your own policy that you can control.
- As stated above, you should check with your HR dept, but as a general rule, you should have a conversion priviledge that will allow you to convert it to a whole life policy and continue paying the premiums to keep it in force. Usually you only have 30 days to do this and if you do not, you probably will not have any life insurance.
- Only if you converted it when your employment was terminated. Benefits don't normally continue after you're terminated unless you convert & pay for them yourself.
