Final Answer:
Jamie's options include converting the group policy to an individual one or purchasing a new individual policy.
thus correct option is b) Purchase a new individual policy
Step-by-step explanation:
Jamie has two primary options available to secure life insurance after transitioning from a company that provided group coverage to one that doesn't offer it. Firstly, he can explore converting the existing group life insurance policy from his former employer into an individual policy. This transition allows him to maintain coverage without being tied to his previous employer's benefits package. It's essential to consider the terms, costs, and coverage limits associated with this conversion.
Secondly, Jamie can opt to purchase a new individual life insurance policy independently. Shopping for an individual policy offers flexibility in selecting coverage that aligns with his current needs, considering factors such as dependents, financial obligations, and long-term plans. Jamie should research different insurance providers, policy types, coverage amounts, and premium rates to find the most suitable option.
Additionally, joining a professional association might provide access to group insurance plans, but it's crucial to assess the coverage's adequacy and any limitations it might have. Relying on government assistance for life insurance typically isn't a viable option, as government programs might offer limited coverage and eligibility criteria that might not meet Jamie's needs. Ultimately, exploring the conversion of the existing policy or purchasing a new individual policy are the most comprehensive and tailored options for Jamie's life insurance coverage.
thus correct option is b) Purchase a new individual policy