Tied to your company life insurance policy? Read on
Signed up for a company life insurance policy that you don’t want now? Chances are that your company’s HR asks you to wait till the financial year-end even though life insurance firms allow cancelation of the policy anytime. Azstarnet.com reports:
The life-insurance option is part of a larger, "cafeteria" benefits plan, which is governed by IRS rules that do not permit changes in benefits more than once a year, explained
Read more: Canceling life-insurance benefit is difficult because of IRS rules
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