What options does somebody in Moosmann's situation have? "That's a great question," says Tschudy. "We thought it was important to offer a conversion option. The people impacted can switch to an individual life policy, whole life, without any underwriting, if they choose to do that within 31 days of the cancellation of the Life Savings Certificate. If they do it later, it will be subject to underwriting."
If Moosmann were to act before the deadline, what would be the difference in cost between her old policy and her new? "She was not paying anything for the old policy," Tschudy points out. "For a new policy, it will vary by age. If you're older, of course, it's going to be more expensive than if you're 21."
In disbelief, Sandy Bellm says, referring to the extra one percent certificate the union is offering her mother: "How long would it take her to make up that $2,000? She's 92! Are they even thinking about what they're saying to these seniors?"