Life Insurance Broker Discusses Guaranteed Conversion
As an experienced Life Insurance Broker, I often get questions from physicians and dentists about how guaranteed conversion works. Some group life insurance plans will have a guaranteed conversion to an individual plan when you leave that employment. This type of plan is usually very expensive and only used when someone is in such poor health or unable to obtain individual coverage.
If you’re in good health or even partial good health, it would behoove one to try to apply, go through underwriting, and get an individual policy. This would apply for all except for those who are in very critical medical condition and then they need to have the guaranteed conversion.
If you are a physician or dentist and have questions on how guaranteed conversion works, contact our professional Life Insurance Brokers for guidance. Let our experience work for you.
This educational blog was brought to you by Life Insurance Broker Michael J. Bruno, seasoned Chartered Financial Consultant, Chartered Life Underwriter and Registered Health Underwriter. Specializing in financial planning and disability insurance for physicians and dentists for over 30 years.