When you leave UC employment or retire, you can continue life insurance benefits. You have different options depending upon the plan.
Basic or Core Life Insurance benefits can be converted to an individual Whole Life plan with Prudential, UC's life insurance carrier.
Supplemental Life Insurance benefits can be converted to a whole life plan or carried over to the Prudential Portability group term life plan. Group term life insurance plans have lower premiums than individual whole life plans.
Dependent Life insurance coverage also has both the portability and conversion options. However, portability is available only if you also elect portability of your Supplemental Life Insurance Plan.
You must be actively at work on the day prior to separation from employment to be eligible for portability, and your dependent is not confined for medical care or treatment, at home or elsewhere on the day your term life coverage ends.
The life insurance benefits for those that participate in the portability option will be reduced to 60% at age 65, 50% at age 70 and will terminate at age 80.
For the appropriate conversion or portability application form, contact your local Benefits Office.