Hello everyone,
My husband retired from UPS just this month after 34 years. He was in management. My question to you all is about the retiree life insurance options.
I was told by Prudential that my husband could either port or convert. I was told he would receive a packet in the mail after he changes to retiree benefits which will be April 1.
However, a few days ago, he received something from Prudential giving the option to convert to a whole life policy (very expensive) or to apply for new life insurance which requires evidence of insurability. They did not even mention the portability option.
From research I have done, it seems that porting the insurance is the most affordable option. I did a search for this topic and did not see one. Can those of you who retired from management talk about what you did and explain the pros and cons?
Thank you!
My husband retired from UPS just this month after 34 years. He was in management. My question to you all is about the retiree life insurance options.
I was told by Prudential that my husband could either port or convert. I was told he would receive a packet in the mail after he changes to retiree benefits which will be April 1.
However, a few days ago, he received something from Prudential giving the option to convert to a whole life policy (very expensive) or to apply for new life insurance which requires evidence of insurability. They did not even mention the portability option.
From research I have done, it seems that porting the insurance is the most affordable option. I did a search for this topic and did not see one. Can those of you who retired from management talk about what you did and explain the pros and cons?
Thank you!