SECTION 4 - INSURANCE BENEFITS (Continued)
DEPENDENT LIFE INSURANCE
Benefits
When is Your Dependent Life Insurance Benefit Payable? When Lincoln receives satisfactory Proof of your Covered Dependent's death, Lincoln will pay to you the amount in force on such Dependent's life under this plan. The Dependent Life Insurance benefit will be paid in one sum. It is shown in the Schedule of Benefits.
Conversion Privilege
What is the Conversion Privilege?
Conversion Privilege at Individual Termination or Reduction of Benefits: If a Covered Dependent's coverage ends because: 1. of your death; or 2. your employment in an eligible class for Dependent Life Insurance ends,
your Covered Dependent spouse may convert Dependent Life Insurance to an individual policy. Within 31 days after coverage ends, your Covered Dependent spouse must make written application to Lincoln and pay the first premium payment. If proper notification of the right to convert is not given to your Covered Dependent spouse , then notice must be given at least 15 days after coverage ends. Conversion must be made within 31 days of notification. The individual policy will contain Life Insurance benefits only. The policy will be one then being offered by Lincoln. Evidence of Insurability will not be required.
Conversion Privilege at Class or Policy Termination: If your Covered Dependent's coverage ends because: 1. coverage ends for all employees; or 2. coverage ends for all employees in your eligible class,
your Covered Dependent spouse is entitled to a limited conversion privilege. You must be entitled to convert to an individual policy in order for your Covered Dependent spouse to have this limited privilege. Conversion must be applied for in the same way as stated above. The amount your Covered Dependent spouse may convert is limited to the lesser of: 1. the amount your Covered Dependent spouse was covered for on the date coverage ended less any group insurance you become eligible for within 31 days; or 2. $2,000. The individual policy will become effective 31 days after your Covered Dependent spouse's coverage ends.
Death Within the 31 Days Allowed for Conversion:
GLC-DEP-1.8
Dependent Life Insurance
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