SECTION 4 - INSURANCE BENEFITS (Continued)
PORTABLE GROUP TERM LIFE INSURANCE
If any of your coverage under this Plan ends, you may be eligible to continue all or a part of the amount that ends, less any amount converted to an individual policy as provided in the Conversion Privilege, subject to any minimum and maximum amounts specified in this provision, as portable group term life insurance. The coverage must end because you are no longer in an eligible class or are no longer in Active Employment. If you are eligible for portable group term life insurance, you may also elect portable group term life insurance on your Covered Dependent spouse or Dependent child whose coverage under this policy ends. A Covered Dependent is eligible to directly apply for portable group term life insurance if they no longer satisfy the definition of Dependent under the policy. Portable group term life insurance is not available if your coverage ends because this policy terminates, or if any life insurance under this policy will be continued on a waiver of premium basis. You are eligible to apply for portable group term life insurance if you were actively at work on the day before coverage under this policy reduced or ended. You are eligible to apply for portable group term life insurance if you have no Injury or Sickness that has a material effect on your life expectancy. An Injury or Sickness that has a material effect on life expectancy means a condition that, according to generally accepted medical opinion, may contribute to or result in death within the next 5 years. Some examples include cancers and lung diseases.
You are eligible for portable group term Life Insurance if: 1. you are under age 65;
2. you are a citizen or legal resident of the United States or Canada; and 3. you are not a full-time member of the armed forces of any country.
To apply for portable group term life insurance, you must, within 31 days of the date you cease to be eligible for coverage under this policy submit a completed portable group term life insurance application along with the first premium payment and any required application fee to Lincoln at the address shown on the application. If you and any Dependents are applying for coverage, your portable group term life insurance and that of any Dependents will be effective at 12:01 A.M. Standard Time on the day after coverage under this policy ends as long as any required Evidence of Insurability is approved. You are responsible for the expense of securing supporting information to satisfy Evidence of Insurability. The policy available will be one then being offered by Lincoln as portable group term life insurance. The premium due will be based on Lincoln’s then current rate for such policies that apply to you, your spouse, and your Dependent child’s class of risk and age at birthday nearest to the effective date of portable group term life insurance. The amount of portable group term life insurance may be decreased at any time. Once elected, the amount of portable group term life insurance may be increased annually, subject to Evidence of
GLC-PTL-13
Portable Group Term Life Insurance
Made with FlippingBook Online newsletter