What is portable life ins?

Answer 1

Portable life insurance is a term generally used in reference to a policy that is purchased at work but that you can take with you if you leave the employer. Usually it is an individual policy that is sold on a payroll deduction basis. In this case all you have to do is to change the payment method. Most group life insurance is convertible to an individual policy without having to prove insurability. However, if you are in good health, you can attain a better rate by shopping around for an individual life insurance policy. I recommend this route first then if not approved or if rated you can convert the group policy but be aware of how long you have to convert. As a matter of full disclosure, I own and operate a small Independent Insurance Agency for the past 22 years and worked as an agent for direct writers for 3 years prior to that.