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.
There are three basic types of life insurance: 1) Whole Life, 2) Term and 3) Endowment. Limited Pay Life policies, such as LP65 and 20-Pay Life, are variations of Whole Life or Straight Life. The premium-paying period has been shortened, but the policy still does not mature until age 100.