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1/25/2018 7:38:29 AM
Posted: 9/6/2010 9:57:16 AM EST
During "open enrollment" for life insurance at work, just how open is it? If a guy is diagnosed with fast-moving cancer a month before the open enrollment period, can he still walk in and buy a zillion dollars worth of life insurance?
Link Posted: 9/6/2010 9:59:04 AM EST
don't they usually limit you to 1x salary per year of service unless you fill out a health application for the added coverage?

e.g. year 1 you can get 1x salary, year 2 you can add another x to get 2x salary, etc.

That's how mine works up to about 6x salary.
Link Posted: 9/6/2010 10:02:11 AM EST
[Last Edit: 9/6/2010 10:05:26 AM EST by DV8]
You can join regardless of your health status. Most policies will have a limit that you can buy without any evidence of insurability, usually one or two times salary. After the limit set by the insurer, you need to submit to a physical and blood work.

ETA: Former Group Benefits Agent. ^^
Link Posted: 9/6/2010 10:03:54 AM EST
During last year's open enrollment, anyone wanting to purchase additional life insurance was greeted with a health questionnaire. I was declined.
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