Term Life Insurance or Permanent Whole Life insurance Quote Providers Below

New Jersey Life Insurance Education Online and Consumer Resources answers.

Assuming you are covered by NJ group life insurance while employed, the coverage ends 31 days after you leave employment. You may continue your life insurance coverage after you leave employment by converting your Group Term Life insurance policy, without medical examination, at your own expense. This explains the information that you should consider and the rules to follow when purchasing a conversion policy.
You have the option to convert your Group Life Insurance coverage to an Permanent policy with the Prudential Insurance Company when you retire, terminate employment or lose coverage on a leave of absence without any pay. This conversion option to a Prudential policy is guaranteed (you cannot be denied coverage for health or other reasons), but it may be more expensive or less suitable to your needs than other policies for which you may qualify from other insurance carriers.

Other carriers may accept or reject your application based on their evaluation of the status of your health and other factors. If you wish to purchase a conversion policy, you have a one time option prior to the 31st day after you terminate employment. After 31 days, you will not be eligible to purchase a conversion policy without a medical exam.
To initiate the purchase of a New Jersey Group Life Conversion Policy in NJ, (not handled by the Division of Pensions and Benefits) by visiting the New Jersey Life Insurance Confidential Consumer Quote Request Form.

The conversion policy can be for any amount of insurance up to the amount that you had while employed. (In the case of a retirement the maximum amount that you can purchase will be reduced by the amount of any life insurance that you will automatically receive in retirement under your retirement plan.)
To protect your conversion privilege it is suggested that you call for prices on your conversion at the same time you file your retirement application or terminate employment.
The reduction (or elimination) of your life insurance coverage will be effective 31 days after your date of termination. If you wish to supplement this coverage with either a conversion policy from Prudential or another type of policy from Prudential or another insurance carrier, it would be best to Request Assistance at least four months prior to your retirement.

EXAMPLE: If you had group life insurance of $86,000 while employed, and that life insurance coverage drops to $6,000 at retirement, you can purchase up to $80,000 in life insurance coverage under an individual non-group policy by Requesting Assistance above before 31 days following your termination of employment.

Time will pass quickly so act now!
If you terminate employment without applying for retirement or your insured period during a leave of absence expires, you will continue to be covered for the next 31 days. Up until the end of that 31 day period, you may convert your group life insurance, without medical examination, to any individual policy customarily offered by Your Insurance Company except term insurance or a policy containing disability benefits.

New Jersey State Group Life Insurance Policies Conversions from NJ Insurance Agency.