Question
What is the name of your state? CA
My wife has a life insurance policy through her work, but what if cancer forces her to stop working and she dies months later? Is her life insurance policy then worthless?
Answer
Was she diagnosed with cancer AFTER she had already been approved for the policy?
If she doesn't already have a copy of the actual policy, she needs to get one and read the fine print/every word in the policy to understand what might happen.
DANDY DON IN OKLAHOMA (tiekh@yahoo.com)
Answer
It is extremely common for life insurance benefits to end when employment does. It's not an individual policy on your wife; it's a group policy in which she can share. If she's no longer employed there, why would she still be entitled to participate in the group benefits?
But Don is correct that only by reading the policy can she get a definite answer.
Answer
What is the name of your state? CA
My wife has a life insurance policy through her work, but what if cancer forces her to stop working and she dies months later? Is her life insurance policy then worthless?
There are both employer paid, and employee paid life insurance. When I left my old empoyer, I lost the employer paid, but could continue the employee paid policy by continuing to pay the premiums. It is three years since I ceased employment there, and I still maintain that policy. As stated, one needs to READ the terms of the coverage.
And, of course, any other non-employer paid life policies continue as long as premium is paid.
If the employee goes on long term disability, the coverage may continue - you need to consult the HR dept.