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Get the free Conversion of Basic Term Life Insurance to Supplemental Life Insurance Election form

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This form allows members to elect to add 1x salary to their supplemental life insurance without needing to provide evidence of insurability, following a policy change effective January 1, 2014.
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How to fill out conversion of basic term

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How to fill out Conversion of Basic Term Life Insurance to Supplemental Life Insurance Election form

01
Obtain the Conversion of Basic Term Life Insurance to Supplemental Life Insurance Election form from your HR department or insurance provider.
02
Read the instructions provided on the form carefully to understand the conversion process.
03
Fill in your personal information, including your name, contact details, and employee identification number.
04
Indicate your current Basic Term Life Insurance policy details, including the policy number and coverage amount.
05
Select your desired coverage amount for the Supplemental Life Insurance and mark any additional options if available.
06
Review the premium costs associated with the Supplemental Life Insurance and ensure you understand the payment options.
07
Sign and date the form to validate your election for conversion.
08
Submit the completed form to your HR department or insurance provider as instructed.

Who needs Conversion of Basic Term Life Insurance to Supplemental Life Insurance Election form?

01
Employees who currently have Basic Term Life Insurance and wish to convert it to Supplemental Life Insurance.
02
Individuals looking for additional life insurance coverage beyond the basic policy offered by their employer.
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The Conversion of Basic Term Life Insurance to Supplemental Life Insurance Election form is a document that allows policyholders to convert their basic term life insurance coverage into a supplemental life insurance policy, typically providing additional coverage options and benefits.
Individuals who currently hold a basic term life insurance policy and wish to convert it to a supplemental life insurance policy are required to file this form.
To fill out the form, policyholders need to provide personal information such as name, address, and policy number, indicate the desired coverage amount for the supplemental policy, and sign the form to authorize the conversion.
The purpose of the form is to facilitate the transition from basic term life insurance to supplemental coverage, allowing individuals to enhance their life insurance benefits and ensure continued protection for their beneficiaries.
The form must report the policyholder's personal details, current basic term policy information, requested supplemental coverage amount, and any beneficiary designations.
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