When your relationship with your employer changes – either because you are leaving the company, you have become disabled, or you are no longer eligible for coverage – you can take steps to preserve your life insurance.
If your family’s financial security and plan for the future are important to you, you may want to take your life insurance with you.
When can I convert or port my life insurance?
Life Event
Retiring from the Company
Employment has been terminated
Hours have been reduced so that you no longer qualify for coverage
Leaving because of an illness or injury that impacts your life expectancy
Employer has cancelled the group policy, or Unum has made changes that make you ineligible for coverage
Can Convert Coverage?
Yes
Yes
Yes
Yes*
Yes **
Can Convert Coverage?
Yes
Yes
Yes
No
No
What do I need to do to convert or port my coverage?
Convert
Basic Life Policy
Change your group life coverage to an individual policy, which builds cash value. You pay the premium individual rates. The right to convert your policy is guaranteed by law under certain circumstances.
Have your employer complete Section 1 of the life conversion form.
Complete Section 2 of the conversion form yourself.
Port
Voluntary Life/AD&D Policies
Take your group term life coverage with you and pay for it at group rates. This coverage does not build any cash value.
Have your employer complete Section 1 of the life/AD&D portability form.
Complete Section 2 of the life/AD&D portability form yourself.
Submit your initial premium payment with the appropriate form no later than 31 days after your coverage ends to:
Unum Life Insurance Company of America
Portability and Conversion Unit
2211 Congress Street
Portland, ME 04122
Remember to designate a beneficiary and sign and date the election form.
You have 3 ways to pay: Quarterly, semi-annually, or annually.
Who can I contact if I have questions about life insurance convert/port?
Please call Unum at 1-800-421-0344 with questions.
*State variations may apply.
**Available only if you have been insured under the plan for at least 5 years. You can convert to a policy with a maximum benefit of $10,000.