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Conversions

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Employee Conversion Rights
An employee whose coverage terminates may have the right to convert their group term life insurance to an individual whole life insurance policy without evidence of insurability
Coverage for any dependents may also be converted at the same time.  
This section includes:  
When is an Employee Eligible to Convert
When Should the Conversion Application be Submitted
When Does the Individual Policy Become Effective
What Amount of Group Term Life Insurance Can Be Converted
Are There Any Exceptions to What Can Be Converted
What if the Individual Dies During the Conversion Period
Who is Responsible for Notification of Conversion Rights
 
When is an employee eligible to convert their group term life insurance coverage?
The right to purchase a conversion policy is available when the employee’s group term life insurance coverage ends for a reason other than the group’s coverage ending or changing (for example, when his/her employment with the group terminates or, for dependents, when the employee dies).  
 
When should the conversion application be submitted?
The individual must apply to Anthem Life for conversion in writing and pay the initial premium on the policy within 31 days after the group term life insurance ends.  
 
When does the individual policy become effective?
The conversion policy will become effective on the date that group term life insurance ends, provided the person applies and pays the conversion premium on a timely basis.  
 
What amount of group term life insurance can be converted?
The individual may choose to be insured for the same amount as the coverage that terminated under the group plan, or less. Once the benefit amount is selected, the premium will be calculated according to the individual’s age and any risk class rating that applied to the group coverage.  
 
Are there any exceptions to what an employee is eligible to convert?
Yes. An employee who loses coverage because the group plan terminates or changes may have the right to convert the group term life insurance to an individual whole life policy. However, in this case:  
 
the individual must have been covered under Anthem Life’s group life policy for at least five years; and
the amount of insurance available for conversion will be limited to the amount stated in the group certificate.
 
 
What happens if the individual dies within the time period allowed for conversion?
If the individual dies within the time period allowed for life conversion, Anthem Life will pay the benefit he or she could have converted, unless death benefits are payable under some other provision of the group’s insurance plan.  
 
Who is responsible for notifying the eligible person of their conversion rights?
It is the employer’s responsibility to notify eligible persons of their conversion right. There is typically no extension of the life insurance conversion period due to delayed notice to employees of their conversion right.  
 
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Anthem Blue Cross and Blue Shield is the trade name of: In Colorado Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc. In Connecticut: Anthem Health Plans, Inc. In Indiana: Anthem Insurance Companies, Inc. In Kentucky: Anthem Health Plans of Kentucky, Inc. In Maine: Anthem Health Plans of Maine, Inc. In Missouri (excluding 30 counties in the Kansas City area): RightCHOICE® Managed Care, Inc. (RIT), Healthy Alliance® Life Insurance Company (HALIC), and HMO Missouri, Inc. RIT and certain affiliates administer non-HMO benefits underwritten by HALIC and HMO benefits underwritten by HMO Missouri, Inc. RIT and certain affiliates only provide administrative services for self-funded plans and do not underwrite benefits. In Nevada: Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc., dba HMO Nevada. In New Hampshire: Anthem Health Plans of New Hampshire, Inc. In Ohio: Community Insurance Com pany. In Virginia: Anthem Health Plans of Virginia, Inc. trades as Anthem Blue Cross and Blue Shield in Virginia, and its service area is all of Virginia except for the City of Fairfax, the Town of Vienna, and the area east of State Route 123. In Wisconsin: Blue Cross Blue Shield of Wisconsin ("BCBSWi"), which underwrites or administers the PPO and indemnity policies; Compcare Health Services Insurance Corporation ("Compcare"), which underwrites or administers the HMO policies; and Compcare and BCBSWi collectively, which underwrite or administer the POS policies. Independent licensees of the Blue Cross and Blue Shield Association. ® ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Use of the Anthem Web sites constitutes your agreement with our Terms of Use