Is it a good idea to convert group life insurance to individual life insurance after being fired?

You should always have individual Life Insurance even if you have group insurance. You should get personally owned insurance as young as you can as it will ultimately cost less. Most group plans are not protable however it sounds like yours is. This means you can convert it without any further evidence of insurability. If your health is good to Excellent it may be less costly to look at other insurance options thru a broker. At that time the underwriting is based on your age and health and a few other criteria.