If your Bedford City School District life insurance ends, you may have the option to continue your coverage or convert it to an individual policy through Mutual of Omaha.
Continuing your current group life insurance is referred to as "porting," and it allows you to continue the same Term Life policy you have today. An important feature of Term Life policies is that your rates will increase as you age.
Converting life insurance coverage means that your current, Term Life policy will be converted into a Whole Life policy. Rates are based on your age, gender, and amount of insurance at the time of your enrollment, and they do not change over time.
If you would like to keep your Bedford City School District life insurance after retirement, leaving employment, or becoming ineligible for benefits, you must contact Mutual of Omaha directly no more than 60 days after your district coverage ends to apply.
There are many other important factors when you are considering porting or converting your group life insurance coverage. Download the flyer below or call Mutual of Omaha to understand your options and determine if porting or converting will meet your unique needs.
Call Mutual of Omaha at 877-466-8367 (Monday - Friday, 9:00 am - 5:30 pm)