Personal Finance (Not Investing) • Group Universal Life options after separation from work

Hi,

I have a question regarding group life insurance coverage I have had with my former employer.
I recently received a notice with the following options after separation.

1. Continuation: pay monthly premium
2. Paid-Up: use cash accumulation to buy paid-up insurance
3. Surrender: possible tax
4. Conversion: convert GUL to individual policy

My coverage is not a lot; 1x pay.

I'd like to learn from those who have been through similar processes; please let me know your thoughts.

Thanks in advance.

Statistics: Posted by BG22_1248 — Sun Aug 18, 2024 8:40 am — Replies 0 — Views 12

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