Page 1 of 3GLA-01114NY 7/08 COBRA GUIDELINES HOW DOES AN EMPLOYEE APPLY FOR COBRA?â¢ The Employee needs to complete the Dental COBRA Election Form (GLA-01359*) within 60 days of the date of terminationor qualifying event.
Straight life. A straight life insurance policy is a type of permanent insurance that provides a guaranteed death benefit and has fixed premiums. This traditional life insurance is sometimes also known as whole life insurance or cash value insurance.
This can have significant tax implication for the insured, though. An endowment life insurance policy is a form of insurance that âmaturesâ after a certain length of time, typically 10, 15 or 20 years past the policyâs purchase date, or when the insured reaches a specific age. If the insured dies before the policy matures, the policyâs beneficiaries are paid a stated death benefit.