Life Insurance Conversion. Employee has the right to convert Employee's life insurance coverage under Employer's Group Life Plan and dependent life insurance coverage obtained by the Employee under Employer's Dependent Life Plan to individual life insurance policies. Conversion forms and premium rates applicable to such conversion programs will be provided separately by the relevant insurer.
Life Insurance Conversion. Upon application to the Insurance Company within days after your Life Insurance terminates, you may arrange to continue your Life Insurance protection under an individual policy, For an amount not greater than the amount of Basic Life Insurance you have under the program at the time termination, without medical examination. Such individual policy may he on any one of the Forms of policy issued by the insurance company other than a policy of term insurance or one which provides disability benefits or special benefits in the event of accidental death, and will be issued at the rate applicable at your age and class of risk at the time. Any such individual life insurance policy will become effective at end of the conversion period referred to, and if you should die during such period, whether or not you have applied for such policy, an amount equal to the amount of Basic Life Insurance in force under the program immediately prior to termina- tion or reduction will be payable to your beneficiary.
Life Insurance Conversion. Upon application to the Insurance Company within 31 days after your Life Insurance terminates, you may arrange to continue your Life Insurance protection under an individual policy, for an amount not greater than the amount of Basic Life Insurance you have under the program at the time of such termination, without medical examination. Such indi- vidual policy may be on any one of the forms of policy issued by the insurance company other than a policy of term insurance or one which provides disability benefits or special benefits in the event of accidental death, and will be issued at the rate applicable at your age and class of risk at the time. Any such individual life insurance policy will become effec- tive at the end of the 31-day conversion period referred to, and if you should die during such period, whether or not you have applied for such policy, an amount equal to the amount of Basic Life Insurance in force under the program immediately prior to termination or reduction will be payable to your beneficiary.
Life Insurance Conversion. Employees may replace their Group Life Insurance with one of several individual policies with no medical examination or other evidence of insurability if insurance is terminated due to termination of employment. See the conversion privilege section of the certificate for further information.
