Life Insurance Plan: When Coverage Begins and Ends


This document describes the waiting period for life insurance coverage, explains when coverage begins and ends, and describes coverage continuation at termination and during leaves of absence.

When Coverage Begins

Coverage begins once an employee has completed a 6-month waiting period from date of hire or eligibility.

Late Optional Life Enrollment

Late enrollment occurs when an employee does not enroll within 60 days of hire or eligibility. A "Short Form Health Statement Questionnaire" is required for late enrollments. Refer to Chapter 6 of the RF Benefits Handbook and addenda for more information.

Effective Date

Coverage becomes effective on the first day of the payroll period following Prudential's approval of your application and you meeting all other eligibility requirements.

When Coverage Ends

Coverage ends on the same day the employee terminates from the Research Foundation (RF) payroll or is no longer eligible for coverage (see "Eligibility Requirements for Life Insurance Coverage.")

Coverage Continuation: After Termination or Ineligibility

An employee who terminates from the RF payroll or is no longer eligible for coverage may contact the carrier within 31 days to request an individual life insurance policy.

The amount of insurance that may be converted to an individual policy may not exceed the amount of insurance provided to the employee under the Foundation’s group policy. The individual policy will be issued without medical evidence of insurability, at the insurance company’s regular rates.

Note: A written application and the first premium payment must be submitted to the carrier within the 31-day conversion period.

You may choose to continue your Optional Life Insurance coverage on a term insurance basis through the plan's portability provision, but for the Basic Life coverage, conversion to a whole life policy is your only continuation option.

Coverage Continuation: During Leave of Absence

Employees may continue coverage for up to 12 months while off the payroll on an approved leave of absence provided they pay the following monthly amounts in advance:

To continue...

the employee must pay...

Basic Life coverage

the employer portion of the premium.

Optional Life coverage

the same amount as during active status.

For complete administrative information on, and applications for, continuation of coverage, refer to the following documents on the RF Web site:



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