What can group life insurance typically be converted into?

Group life insurance can typically be converted into individual whole life insurance. This conversion option allows individuals who are members of a group, such as employees of a company, to transition from group coverage to personal coverage when they leave the group or when the group policy ends. Whole life insurance provides coverage for the insured's entire life, as long as premiums are paid, and it also includes a savings component which accumulates cash value over time.

The ability to convert group life insurance to whole life is particularly beneficial as it provides a permanent coverage option and maintains insurability even if the individual’s health status changes after leaving the group. The other options mentioned, such as term life insurance, universal life insurance, and variable life insurance, are typically not standard conversion options provided by group life insurance policies. These types of insurance may offer different structures or benefits that do not align with the typical conversion pathway established for group life.