MetLife

 

With over 150 years of experience, MetLife is a leading innovator and a recognized leader in protection planning and retirement & savings solutions. 

Everyone needs life insurance.

Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.

 

You've recently graduated from college.

You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.

 

You're the parent of young children.

You want to make sure they'll be able to keep the same lifestyle and attend college—even if you're not there to see it happen.

 

Your grown children are on their own.

Your adult children may rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.

 

Your spouse may be depending on your income for retirement.

But you're not sure your retirement savings is enough to keep up with a rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.

 

Like many families, you rely on two incomes to make ends meet.

You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.

 

You want to be sure your children can protect their futures, too.

Most children's life insurance coverage contains an innovative feature that allows them to convert their term life protection to a permanent life insurance plan at a higher premium when they become adults. This ensures that your children can protect their own families—no matter what health problems they may develop.

You can enroll if:

• You are actively at work on the date your Enrollment Form is signed and coverage begins.
• You meet the eligibility requirements on the Enrollment Form.
• Are a U.S. citizen or U.S. permanent resident on U.S. payroll.

 

You can also enroll these family members:

• Your spouse up to age 94.
• Your dependent children up to age 26.

 

You or your spouse must participate in the program to elect child coverage.

Your cost is based on several factors, including your age, any special features you select, and the amount of coverage you want.

If you do not apply for yourself and your eligible family members during your initial eligibility period or during a special enrollment period, you will be required to answer a more comprehensive health questionnaire and be approved by MetLife before coverage can begin.

Good news! If you leave or retire from your current employer, you can continue your coverage without interruption (subject to applicable law and the plan’s terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply. 

Automatic coverage increase. 

• Each year on July 1, your employee coverage may go up based on an increase in your annual pay as of the prior April 1.
• Coverage increases automatically just once per program year. You must be actively at work on the effective date of your increase to qualify.

 

Accelerated Benefit Rider.

• An advance payment of your life insurance benefits is available if you are diagnosed with a terminal illness with a life expectancy of 12 months or less (may vary by state).
• You can request payment up to 80% of your coverage amount, up to a maximum of $500,000.
• Advance payment permanently reduces the death benefit.
• Premiums must continue to be paid on the remaining coverage amount after an advanced payment.

 

Accidental Death Benefit.

• Additional amount of coverage is paid if death occurs as the result of a covered accident.
• Provides your beneficiary with an amount equal to the GUL insurance amount.
• You may elect this optional coverage with your life insurance coverage and/or your spouse’s life insurance coverage at a minimal cost.
• The Accidental Death Benefit automatically ends upon your retirement, termination or on July 1 following the insured’s 70th birthday, whichever is earliest.

 

Paid Up Life Insurance.

• You may purchase a paid-up life insurance policy equal to your insurance coverage at any time.
• You will then own the coverage for the rest of your life with no additional premium payments.
• Contact Mercer Voluntary Benefits for information.

 

MetLife Advantages^SM.

• A comprehensive suite of valuable services for support, planning and protection.
• No costs to participants of the GUL program.
• Click on the links below to learn more about each of these valuable services.

o  Will Preparation Services

o  Will Preparation Services FAQs

o  Dignity Memorial Funeral Discount and Planning Services

 

Yes. The money that grows in your plan’s cash fund is “tax-deferred,” which means it’s not subject to tax while it’s growing, only at the time you take any money out.³ Additionally, your family doesn’t pay federal income tax on any life insurance benefit check they receive.

 

Always check with your financial advisor about anything related to tax status.

Yes. The benefit your beneficiary receives is paid in addition to any other coverage you may have.

If you are applying during one of the qualifying enrollment periods and Evidence of Insurability is not required:

• Coverage is effective the 1st of the month in which your first payroll deduction begins.

 

If you are applying outside of the qualifying enrollment periods and Evidence of Insurability is required:

• Coverage is effective on the 1st of the month after coverage is approved by MetLife.
• If you enroll during a special enrollment period, coverage begins when stated in the offer.

 

If you are already enrolled and want to change your coverage amount, you will need to click the “Enroll” button, login to your account, and follow the steps on screen. New users to the site will need to register to create a username and password.