We are happy to announce that we have partnered with Gerber Life Insurance administered by HRMP (Gerber Life) to now administer the conversion privilege from group life policies to individual policies.
Gerber Life has over 25 years of success and continues to provide industry leading insurance. A.M. Best—the impartial reporting firm that rates insurance companies on financial stability, management and integrity has awarded Gerber Life an "A" Excellent rating, indicating that they have a stable long-term outlook.
A notice regarding this this change will be sent out to all group administrators. This notice will include instructions to attach an endorsement to life policies and send it to employees to include with their certificates of coverage. The endorsement will apply to both basic and voluntary group life policies.
An additional change will be to the Conversion Application, which will be replaced with the HRMP Individual Life Conversion Request for Information Form (Conversion RFI Form). It is important that groups exchange their Texas Life Conversion Application for the Conversion RFI Form as soon as is possible. For your client’s convenience, the Conversion RFI Form can be found at LifeMapCo.com/Convert.
If groups are interested in Converting their Group Life Insurance coverage into a Whole Life Individual Policy, they should complete the Conversion RFI Form and HRMP will send them an application and premium costs outline. Their completed application and premium will need to be submitted to HRMP within 31 days after the date of their group life insurance ending.
If you have any questions concerning this change in conversion, please contact your account executive.
Thank you for allowing LifeMap to serve your insurance needs.