Conversion to a Personal Life Insurance Policy

Application for a Personal Policy

If you cease to be insured for life insurance coverage for one of the reasons stated below, you can convert all or part of your life insurance coverage, which then ends, to an individual life insurance contract.  AD&D amounts are not eligible for the conversion option. Evidence of insurability is not required for conversion to a personal policy. The reasons are:

  1. Your employment ends for any reason (including retirement) or you otherwise lose eligibility.
  2. All term life insurance of the Life and AD&D Insurance Program ends by amendment or otherwise. But, on the date it ends, you must have been insured for five years for that insurance (or for that insurance and any Prudential rider or group contract replaced by that insurance).

In addition, any such conversion is subject to the following guidelines.

Note: The life insurance available under the Life and AD&D Insurance Program is term coverage. The term coverage under the Plan cannot be converted to an individual term policy under the conversion option. Your coverage under the Plan can only be converted to an individual Whole Life policy under the conversion option. An individual agent may be able to provide additional conversion options. Contact Prudential for more information.

To convert your existing Employee, Spouse or Child Life Insurance coverage into a personal policy, you should contact:

The Prudential Group Conversions
290 West Mount Pleasant
POD 1 Stop 102
Livingston NJ 07039
1-877-889-2070

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Availability

You must apply for the individual contract and pay the first premium by the end of the Application Period, which is the later of:

  1. The thirty-first (31st) day after you cease to be insured for the Employee life insurance; and
  2. The fifteenth (15th) day after you have been given written notice from Prudential of the conversion privilege. But, in no event, may you convert the insurance to an individual contract if you do not apply for the contract and pay the first premium prior to the ninety-second (92nd) day after you cease to be insured for the Employee life insurance.

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Individual Contract Rules

The individual contract must conform to the following:

Amount:  Not more than your Employee life insurance under the Life and AD&D Insurance Program when your insurance ends. But, if it ends because all life insurance of the Life and AD&D Insurance Program ends, the total amount of individual insurance which you may get in place of all your life insurance then ending under the Life and AD&D Insurance Program, if you have been insured for five years or more, will not exceed the lesser of the following:
  1. The total amount of all your life insurance then ending under the Life and AD&D Insurance Program reduced by the amount of group life insurance from any carrier for which you are or become eligible within the next 31 days.
  2. $10,000.
Form: Any form of a life insurance contract that:
  1. Conforms to Title VII of the Civil Rights Act of 1964, as amended, having no distinction based on sex; and
  2. Is one that Prudential usually issues at the age and amount applied for.

This does not include term insurance or a contract with disability or supplementary benefits.
Premium: Based on Prudential’s rate as it applies to the form and amount and to your class of risk and age at the time.
Effective Date: The end of the 31-day period after you cease to be insured for the Employee life insurance.

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If You Die During the Application Period

If you die during the Application Period, Prudential will pay a death benefit to the beneficiary. The benefit payable is the amount you would have received had your coverage not ended. This death benefit will be paid even if you did not apply for a personal policy.