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TERM LIFE INSURANCE ELECTION OF PORTABILITY COVERAGEImportant Information What type of coverage can be ported? Basic Life is insurance that your employer provided for you when you were in active employment.
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What is term life insurance election?
Term life insurance election is the process of selecting or choosing a specific term life insurance policy.
Who is required to file term life insurance election?
Individuals who are eligible for term life insurance coverage through their employer or other group plan may be required to file a term life insurance election form.
How to fill out term life insurance election?
To fill out a term life insurance election form, you will need to provide personal information such as your name, date of birth, and beneficiary details. You may also need to select the coverage amount and duration of the policy.
What is the purpose of term life insurance election?
The purpose of term life insurance election is to allow individuals to choose and enroll in a term life insurance policy that meets their coverage needs.
What information must be reported on term life insurance election?
Information such as personal details, beneficiary information, coverage amount, and policy duration must be reported on a term life insurance election form.
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