Has anyone opted for converting your life insurance by submitting a part-a and part-b form? Looks like when I completed the online application the premium seemed 100% inflated for a small amount of coverage. No way UHC portion was coughing up $3,100 per month for my ee-only policy. That's what this conversion form is telling me what I have to pay monthly or multiply that times 11 to pay the lump sum for the remainder of 2020.
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I was laid off in October 2019 and mine was 2k a month. Ridiculous......
My partner looked into buying similar coverage through their employer and the rates were much higher than what we’re paying as employees. My only guess is that we’re benefiting from being part of a VERY large risk pool whereas buying as an individual is just....you. :(
Mine was over $3K per month. Definitely cost prohibitive.
The life insurance conversion is a huge joke. My premium was over $4000 per month to maintain the same level of coverage.
When I was laid off in July/Aug 2019 the conversion was a ridiculous amount of over 2k per month