In the event of employment termination, how many days does a person covered by a group policy have to convert to an individual policy without proving insurability?

When an individual's employment is terminated and they are insured under a group life insurance policy, there is generally a provision that allows them the opportunity to convert their group coverage to an individual policy without having to provide evidence of insurability. This important consumer protection is designed to ensure that individuals are able to transition to individual coverage even if their health conditions have changed since they first obtained the group insurance.

In Indiana, individuals have a specific timeframe during which they can convert their group policy to an individual policy and that timeframe is typically 31 days. This provision is crucial because it provides a safety net, ensuring that individuals who have lost their primary source of insurance do not face barriers to obtaining necessary coverage.

This 31-day period begins from the date of termination of employment or the date coverage under the group policy ends, providing ample time for the individual to make arrangements for a new policy without the risk of being denied due to health conditions. Understanding this timeframe is vital for both consumers and professionals in the insurance industry, as it underscores the importance of timely action when transitioning between types of coverage.