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.
It takes the form of universal life policies sold with âsecondaryâ or âno. lapseâ guarantees. Universal life policies will normally expire (âlapseâ) if the cash or account value. dwindles to the point that it is insufficient to cover a policyâs ongoing charges for insurance and. expense costs.