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As of June 10, 2024, I stopped receiving LTIP payments from my insurance company, and my LTIP claim was officially closed. Recently, they contacted me via email regarding my Waiver of Premium for Optional Life coverage.
They indicated that my Waiver of Premium remains active despite the closure of my LTIP claim but are requesting updated medical information to reassess my eligibility.
Should I provide this information? Would doing so benefit me, or does it primarily benefit them, given that they no longer pay my LTIP benefits and I’ve transitioned to a different insurance company for general health insurance coverage after retiring in June 2024?
The waiver of premium is typically a good thing - in that it means you have coverage for life benefits, but you don't need to pay the premiums yourself. If that were to end, you would need to start paying the premiums out of pocket.