Group Life Insurance Coverage Tampa Florida FL
Reader’s Question:
A bunch of us are being temporarily laid-off from our office here in Tampa, Florida, does this mean that I am no longer covered under our company’s Group Life Insurance Plan?
Zacharias
Tampa, FL
That would depend on your employer. Is your compensation with your employer also suspended? Where you given an assurance or a specified date when you are expected to be reinstated back? Since employers are usually the one that pays for your group life insurance, if you are not getting compensated then your might have also been temporarily removed from your employer’s group life insurance. If your company there in Tampa, Florida has a salary continuation plan that may be paying you full or a portion of your wages, then your group life insurance coverage should also continue. Most large corporations are able to do this for their employee’s even during temporary lay-offs.
In any case, you should get in touch with your Human Resources or Compensation department to clarify this further (if they have not done so when you were briefed about the temporary lay-off). You should know about your status with your company since you are only given 30 days to notify your employer, or your employer’s group life insurance company, if you would want to convert your coverage into an individual life insurance plan before the said coverage is terminated. This may or may not involve having to undergo at least some form of physical or medical exam so that the life insurance carrier can properly determine your insurability, and therefore charge you the appropriate premiums. We do hope that everything works out for the best with you and your employer.
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