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Get the free Election of Portability for Optional Term Life - state il

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This document outlines the process for members to elect portable term life insurance coverage after a loss of eligibility under the State of Illinois plan. It includes eligibility criteria, coverage
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How to fill out election of portability for

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How to fill out Election of Portability for Optional Term Life

01
Obtain the Election of Portability form from your employer or insurance provider.
02
Fill out your personal information at the top of the form, including your name, address, and policy number.
03
Indicate your election choice by selecting the option for portability.
04
Provide any additional required information, such as your beneficiary details.
05
Review the completed form for accuracy.
06
Sign and date the form to confirm your request.
07
Submit the form to the appropriate department or address provided by your employer or insurance provider.

Who needs Election of Portability for Optional Term Life?

01
Individuals whose optional term life insurance policy is ending or has recently ended.
02
Employees who wish to maintain their life insurance coverage after leaving their job.
03
Persons who want to retain their term life insurance benefits without reapplying for a new policy.
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Election of Portability for Optional Term Life allows individuals to continue their Optional Term Life insurance coverage after leaving employment without the need for a medical examination.
Individuals who wish to maintain their Optional Term Life insurance coverage after their employment ends are required to file the Election of Portability.
To fill out the Election of Portability, individuals need to complete the designated form provided by the insurance company, providing necessary personal information, and specifying the coverage amount they wish to port.
The purpose of Election of Portability is to provide a seamless transition of life insurance coverage after employment, ensuring individuals can maintain financial protection for their beneficiaries.
The information required typically includes the insured's name, Social Security number, coverage amount being ported, and any other pertinent personal or insurance-related details specified by the insurance provider.
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