No, unfortunately, Cobra does not cover life insurance. disability income insurance, or accidental insurance plans. It is basically for continuation of medical, dental, vision and prescription drug coverage for 18 months after a qualifying event that causes them to lose their group health coverage. Sometimes an exception can be made to extend the coverage for up to 36 months.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
No Cobra doesn't cover life insurance as life insurance is not considered a core element of benefit plans under Cobra coverage. That said, most group life plans have made provisions for an individual to break off their coverage from the group plan and continue on with an individual coverage option. You have to review your plan summary to see if this is an option for you.
One thing though, this will be very expensive life insurance as the company assumes the reason you are not simply purchasing new coverage on your own is that you can't qualify for a new policy, so they price this continued policy as if your health was very poor. In other words it's a great deal if you can't get anything elsewhere and a terrible deal if you can.
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One thing though, this will be very expensive life insurance as the company assumes the reason you are not simply purchasing new coverage on your own is that you can't qualify for a new policy, so they price this continued policy as if your health was very poor. In other words it's a great deal if you can't get anything elsewhere and a terrible deal if you can.