You know that life insurance is a critical part of your overall benefits plan. When you leave your employment, you have options to continue your current Group Life coverage and maintain this important protection for you and your family.
Portability & Conversion for Life Insurance
Portability1
- Term policy2
- No medical questions for standard non-preferred rates
- Medical questions for preferred rates and increases in coverage
- Must apply within short timeframe
Conversion
- Permanent Whole Life policy3
- No medical questions
- Must apply within short timeframe
What you need to know
Yes. Rates for portability and conversion are calculated based on your age at the time you convert or port your coverage. Portability rates may change while conversion rates will remain the same for the life of the policy.
For portability and conversion, you generally have 31 days from when your benefits end to continue your coverage. Refer to your paperwork for specific information about your policy.
Portability: No, not for standard non-preferred rates.
However, medical questions must be answered to apply for lower preferred rates and for increases in coverage. If approved by MetLife, you will be billed using the lower preferred rates.
Conversion: No.
Portability | Conversion |
The minimum coverage amounts that can be continued are: Employee: Spouse / Domestic Partner: Child(ren): The maximum coverage amount that can be continued is generally limited to the amount you had at the time group benefits ended, or $2 million. Refer to your Election of Portable Coverage Form for specific information about eligible continuation amounts. |
Generally, the minimum is $1,000. However this is subject to the Individual Life plan features. The maximum coverage that can be continued is generally the amount lost at the time your group coverage ends. However, that can vary based on: The reason group benefits ended. The amount of group insurance you have. Your eligibility for any other group benefits. Specific state regulations.
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Portability | Conversion |
Port your Group Life and Accidental Death & Dismemberment (AD&D) insurance benefits to a term policy based on a qualifying event.* May be available on some Group Life insurance coverages including Basic Life, Optional Life, Spouse Life and Child Life. Refer to your paperwork for eligible portability options. AD&D coverages may also be eligible for portability. Refer to your paperwork for eligible portability options. Coverage is guaranteed at standard (non-preferred) rates with no medical questions as long as it’s submitted within the application timeframe. Preferred rates may be available for those who qualify based on completing a Statement of Health (SOH) form. Lower preferred rates may be available for those who answer medical questions and Statement of Health (SOH) approval from MetLife. |
Convert your Group Life insurance benefits to a permanent, Individual Whole Life insurance policy4 based on a qualifying event.* Available on all Group Life insurance coverages including Basic Life, Optional Life, Spouse Life and Child Life. Conversion is not available on Accidental Death & Dismemberment (AD&D) coverage. Coverage is guaranteed with no medical questions as long as it is submitted within the application timeframe. |
*A qualifying event is a loss of group life or AD&D coverage due to termination, retirement, a scheduled decrease of coverage, a dependent spouse or child’s eligibility changed (i.e. child reached plan’s maximum age or age limit, death of employee, divorce or termination of domestic partnership), class or plan eligibility change, or the group policy ended.