Has anyone ported their life insurance upon leaving? If so do you think the rates are competitive?
6 replies (most recent on top)
Another fine fringe benefit provided by T that is grossely overcharged, ripping off T employees. When it comes right down to it the only true fringe benefits are 401K and PTO. Not sure how much longer the 401K match will exist, but probably not for long.
" you pay at AT&T Group Rates"
and whether you're talking about insurance or pay TV or wireless plans....AT&T Group Rates are not even competitive with rates available to general public.
I am am still active but I did research this, I had just over 1 million in coverage with supplemental, the cost to me as an employee (management) 50 something years old had been going up year to year. I modeled the cost for that coverage to me as a retiree, thinking about surplus, retirement, whatever. That cost (350 or so a month) is not competitive on the open market (I am in very good health). This caused me to reevaluate what II had been paying as an employee. I went on Selectquote for quotes and got a 20 year term policy for basically what I was paying as an active employee, allowing me to cancel that supplemental I had been paying for through payroll deduction (you DO NOT need to wait for open enrollment to do this). Yet another case of a great "benefit" that really isn't any better than what is available to the general public (and just maybe, worse). Do some homework on this. Selectquote makes it pretty easy.
Better off just obtain new policy without porting. The cost for porting T life insurance will cost 3X the normal cost.
I understand you can port your full amount but you pay at AT&T Group Rates. You can port 2X salary.
The life insurance benefit will reduce to 15K for non-management and 10K for managers on 01/01/2022. Since this benefit has been reduced to nothing, what would anyone waste their time porting it?