he got fired after almost 10yrs

I, for one have never worked for a company that offered Life Insurance where I did not pay at least 1/2 the cost of the policy, even though the company would be paying the other half, they would not be listed as the beneficiary, meaning they do not "own" the policy. I do.
In addition: Federal Law mandates that companies OFFER the ex-employee the option to continue the insurance for up to 1 year under COBRA.

 

Cobra is for health insurane.

I have worked for several companies that have provided life insurance to the employee at no cost. These policies are part of the group plan and are not subject to cobra.

Cobra is also for 18 months.


Life insurance.
Owner of the policy is the person or company that pays the premium.
Insured, the person who is insured. May be the owner paying the premium. Not required to be.
Beneficiary. The person that is to receive the proceeds of the life insurance policy. Not always the owner of the policy.

 

Perhaps something has changed.....
the last job I had health insurance AND life insurance was required to offer both to me thru COBRA. Perhaps that is just a Michigan Law. And it was for 1 year (this was in 1997)

 

My husband got fired from his factory job after 10 years, they made up some bologny about he took two lunches, wich never happened! He got in an argument, with the supervisor, after being tired of getting singled out!! He was a team captain no less!! Employers today are ruthless it seems!!!??? I hope he finds what he is looking for, and sorry to hear of your misfortune!!



American only truck crazy girl, cause nothing lse will do!!!!!

 

Cobra was a federal law enacted in 1986. It makes no mention of the life insurance, but a company can offer it if it was an individual policy if they want to, I guess.

I noticed it does not show the length of cobra. I will look for that. The FAQs shown on the page will lead down to the cobra length. It is subject to 18 months and can be shorter if company doesn't pay the premiums. I had one that did that.

Link
http://www.dol.gov/dol/topic/health-plans/cobra.htm

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan.
COBRA generally requires that group health plans sponsored by employers with 20 or more employees in the prior year offer employees and their families the opportunity for a temporary extension of health coverage (called continuation coverage) in certain instances where coverage under the plan would otherwise end.
COBRA outlines how employees and family members may elect continuation coverage. It also requires employers and plans to provide notice.​

 

I just went through all this COBRA and life insurance nonsense. My mother's leave of absence was up just before she died, so she was terminated, which cancelled the life insurance policy. The health insurance, after much fighting, was able to be COBRA'ed, but the life insurance was required to be converted from the group policy to an individual policy, and of course she needed to meet the underwriting standards, a little hard to do when you are in the ICU.

 

Passingtrucker,
Was just asking because I am new to this and still have allot of questions.........I am not an advocate of factoring companies but it seems to me if you were going to give up 5% then you would do just as well to go through a factoring company.........Can you shed some light on this...And sorry for hijacking thread........

VMB
As far as the situation above.... my $.02 .....I have worked several jobs where you are an "at will" employee and can quit or be fired at any time without cause or reason............I think your best bet would see if you qualify for unemployment..........If not move on..........They would make your life hell if you stayed and as it is now you can easily get on with someone else.....Not sure about the insurance........

 

Life insurance is only required to be converted to an individual policy if the program is set up for it, or the state dictates the rule requiring it. Most companies clearly state that life insurance is available during employment and ceases upon termination.

 

This is different for every state. GA is right to work state and it would take a min of 3 write-ups before you could terminate someone here.

 

L.B. i dont think you have that quite right there i a right to work state as long as you are not fired based upon your race cread gender or sexual orientation they can give you the boot at any time for any reason other the the above mentioned it can even be "I dont like you as a person your fired" and you have not recourse but to go get another job unemployment will side with you but you dont have to receive three write-ups before getting fired as for the original post file the unemployment and if its denied file the appeal the worst that can happen is your told no twice best case scenario you get the unemployment it might take a little while but its worth pursuing if your denied on the initial claim but win the appeal they will back pay all the weeks from the first claim