No Matter Where Life Takes You
UNUM Group Life Insurance Can Go With You
When your relationship with Specialized changes — either because you’re leaving the company, you’ve become disabled, or you’re no longer eligible for coverage — you’ll want to take steps to preserve your life insurance.
If your family’s financial security and plans for the future — such as paying for college or staying in your home — are important to you, taking your life insurance with you is a smart move. Depending on your circumstances, you may have two options for keeping your coverage: Conversion or Portability
Important: You have 31 days after coverage ends to apply to keep your life insurance.
Conversion
Change your group term life coverage to an individual whole life policy, which builds cash value. You pay the premium at individual rates. The right to convert your policy is guaranteed by law under certain circumstances. Work with a Specialized Bicycle Component representative to complete Section 1 of the life conversion form. You will complete Section 2 of the conversion form yourself. The rates are included on the form. See Conversion application here.
Portability
Take your group term life coverage with you and pay for it at group rates. This coverage does not build any cash value. This option is also called “porting” your coverage. Work with a Specialized Bicycle Component representative to complete Section 1 of the life/AD&D portability form. You will complete Section 2 of the life/AD&D portability form yourself. Rates can be requested by contacting hr@specialized.com. See Portability application here.
For option’s on Dependent’s life insurance, see flyer.