Portability and Conversion of Life Insurance

Portability and Conversion of Life Insurance

Details

Release Date: 
September 1, 2013
Responsible Offices: 
Employee Benefits

Contact Info

Phone: 
(866) 628-2606

Related Info

Document Information

Portability
When coverage ends due to termination of employment, Portability allows Active Employees and their dependents to continue the Voluntary Term Life coverage by remitting premium directly to Dearborn National. Portability is not available to insureds who elect to convert coverage or whose coverage terminated due to retirement.

Conversion
Conversion allows Employees and their covered dependents to convert some of their Basic Life and/or Voluntary Life insurance to an individual whole life policy if any portion of their Life insurance terminates by remitting premium directly to Dearborn National. Insureds who elect to port coverage are not eligible to convert.

http://www.UTSystem.edu © 2014 The University of Texas System.
601 Colorado Street, Austin, Texas 78701-2982. (512)499-4200