IQVIA Benefits Handbook
PORTABLE GROUP TERM LIFE INSURANCE
If all of your coverage ends, you may be eligible to continue all or a part of the amount that ends, less any amount converted to an individual policy as provided in the conversion privilege. The coverage must end because you are no longer in an eligible class or are no longer in active employment, other than by retirement. Portable group term life insurance is not available if coverage ends because this plan terminates.
If you are eligible for portable group term life insurance, you may also elect portable group term life insurance for your covered dependent spouse or child whose coverage under this plan also ends when your coverage ends.
You may be eligible if:
  • You are under age 65.
  • You are a citizen of the United States or Canada.
  • You are not a full-time member of the armed forces of any country
  • Coverage is not continued on a waiver of premium basis.
Portable group term life insurance will contain only term life insurance. It will be issued without evidence of insurability. The premium due will be based on Lincoln's current rate for such plans that apply to you and your covered dependent spouse's class of risk and age.
The amount of portable group term life insurance you may apply for is subject to the following limits:
  • The amount of insurance that terminated under the plan, subject to a $500,000 maximum benefit limit.
  • The minimum amount for a covered associate is $10,000.
  • The minimum amount for a covered spouse is $5,000, and $2,500 for a covered dependent child.
This amount is subject to any reductions due to age that may be contained in the portable group term life insurance policy. The amount of portable group term life Insurance may be decreased at any time. However, once elected, the amount of portable group term life insurance may not be increased.