Benefits Post Age 65

Nov 05, 2012

Group Benefit plans typically provide coverage for employees to age 70 at which time they will terminate according to the terms of the group insurance policy.  If an individual is still actively at work past the age of 70, quite often an extension of benefits, with the exception of disability benefits, can be requested by the employer. These requests are normally granted but they must be applied for on a case-by-case basis and be pre-approved prior to the individual’s attainment of age 70.

If an individual retires at age 65 or older, there is also the option of converting Group Life, Extended Health and/or Dental to individual coverage with no medical evidence requirements provided this coverage is applied for within a certain time-frame after their benefits termination date. This would be within one month for Group Life Insurance conversion and 60 days for Extended Health and Dental.  The individual should contact either their TRG consultant or the insurance carrier directly to obtain the cost associated with the conversion of benefits as there are a number of choices and/or options available and the cost, as a result, can vary widely.

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