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Term Life Insurance Plan
Details
Optional Employee Life Insurance
You have the opportunity to elect
additional group life insurance through payroll deduction.
Your choice of the following amounts:*
$100,000, $90,00, $80,000, $70,000, $60,000, $50,000, $40,000, $30,000, $20,000,
$10,000
Optional Dependent Life Insurance
Provides coverage on:
• Your Spouse
• Child(ren) from 15 days of age to age 19 (to age 25 if wholly dependent upon
you for maintenance and support if enrolled as a full-time student in an
accredited school or college). Handicapped children can continue to be covered
with no age limit, as long as the child is covered prior to age 19 or to age 25
if a full-time student.
*It is your responsibility to notify payroll in writing when a dependent is ineligible for coverage. Examples of ineligible dependent status are divorce or a child graduates from college.
Your choice of the following amounts: You choose either:
Family coverage, Spouse only coverage or Child(ren) only coverage
• $10,000 on your spouse
• $5,000 on each of your eligible children ($100 benefit from 15 days to 6
months)
• Family coverage - both $10,000 on your Spouse and $5,000 on each of your
eligible children ($100 benefit from 15 days to 6 months).
Optional Dependent Life Insurance is available only to those eligible employees who are insured for Optional Employee Life Insurance.
Features
ELIGIBILITY
You will be eligible for this program if you are a full-time employee
working 30 hours or more per week.
ENROLLMENT
Enrollment is simple - just fill out the election card provided by your
employer. You have 31 days to enroll yourself and dependents without evidence of
insurability within the plan limits.
STATEMENT OF HEALTH
Increases in coverage, a re-entry in the plan and participants who enroll 31
days beyond the eligibility period will be required to provide evidence of
insurability satisfactory to MetLife.
BENEFICIARY
WHEN YOUR INSURANCE STARTS
Your Optional Employee Life Insurance becomes effective on the date of your
eligibility if you are then actively at work; otherwise, on the day you return
to active work. In addition, in order for your Optional Employee Life Insurance
and Optional Dependent Life Insurance to become effective, it is necessary for
you to certify that neither you nor any of your eligible dependents have been
"hospitalized " in the last three months prior to your enrollment date. The term
"hospitalized" includes inpatient hospital care, hospice care, care in an
intermediate or long-term care facility and/or receipt of
chemotherapy, radiation therapy or dialysis treatment. However, a confinement
which is strictly due to pregnancy or childbirth will not be included in the
term "hospitalized".
In addition, coverage will not become effective for you or any dependent who is hospitalized as defined above or who is not performing normal daily activities on the date coverage would otherwise become effective. Normal daily activities means that the individual is not confined at home under the care of a doctor for a sickness or injury or is not entitled to receive any disability income from any source.
If you meet the eligibility requirements described above for date of enrollment and for effective date of coverage, your Optional Employee Life Insurance, if you have enrolled for that coverage, will become effective on the date of your eligibility provided you are then actively at work; otherwise, on the day you return to active work. If you enroll for Optional Dependent Life Insurance, that coverage will become effective on the date your Optional Employee Life Insurance becomes effective, for any dependents who meet the eligibility requirements described above.
If you or any dependents do not satisfy the eligibility requirements described above for date of enrollment and for effective date of coverage, that person will not become insured for Optional Life Insurance until such person has furnished medical evidence of insurability satisfactory to Metropolitan Life.
If you or any dependents do not satisfy the eligibility requirements described above for date of enrollment and for effective date of coverage, that person will not become insured for Optional Life Insurance until such person has furnished medical evidence of insurability satisfactory to Metropolitan Life.
Termination of Coverage
All insurance under this plan will terminate upon the earlier of the date
you retire or the date your employment terminates. Spouse coverage terminates at
age 70. Nevertheless, if you or a covered dependent should die within 31 days
thereafter, the life insurance will still be paid to the beneficiary.
DISABILITY- CONTINUED PROTECTION
Prior to Age 60 - If an insured becomes totally disabled prior to age
60, the amount of life insurance will be continued without payment of premium
provided evidence of disability is submitted annually. The waiver of premium
provision terminates at the earliest of: recovery, death or attainment of age
65.
CONVERSION
If your employment terminates while you are covered under the plan, you may
purchase without medical evidence of insurability, any individual insurance,
except a term policy, issued by MetLife. If you wish to continue with a term
policy, please refer to the section below on Portability. The amount of the
individual contract may not be more than the amount of your life coverage in
effect on your date of termination. You must apply for this policy within 31
days after the date your employment terminates. This privilege applies to
Optional Employee Life Insurance, Dependent Spouse Life Insurance, and Dependent
Child Life Insurance.
PORTABILITY
Portability allows employees whose coverage ends due to certain changes in
employment to continue their current (or a lesser) amount of insurance.
Portability applies to Employee Optional Life Insurance only.
Changes in Employment Include:
• Termination of Employment
• Retirement
• Change in employee class which results in the termination of Optional Life
Benefits.
The minimum face amount which an employee may elect portability is $20,000.
Portable coverage reduces to 50% on January 1st of the year the insured attains
age 70 and terminates on January 1st of the year the insured attains age 80.
When portable coverage ends, insured individuals have the right to convert to an
individual policy.
ACCELERATED DEATH BENEFIT
MetLife has included an Accelerated Benefit Option as part of your group
life benefits. Under this option, if you are diagnosed as having a terminal
illness, you may be eligible to receive a portion of your group life benefits at
such a difficult time. Please refer to your Group Certificate for details.
SUICIDE EXCLUSION
No Optional Employee Life Benefits are payable if you commit suicide within
two years from the effective date of the coverage. Likewise, no Optional
Dependent Life Benefits are payable if the insured dependent commits suicide
within two years from the effective date of this coverage.
CLAIMS PROCEDURE
Claim forms needed to file for benefits under the group insurance program
can be obtained from your employer who will also be ready to answer questions
about the insurance benefits and to assist in filing claims. The instructions on
the claim form should be followed carefully. This will expedite the processing
of the claim. Be sure all questions are answered fully. If there is any question
about a claim payment, an explanation can be requested from your employer, who
is usually able to provide the necessary information.
|
Employee Optional Life Insurance - Monthly Rates |
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|
Amount of Coverage |
Under 25 |
Age 25-29 |
Age 30-34 |
Age 35-39 |
Age 40-44 |
Age 45-49 |
Age 50-54 |
Age 55-59 |
Age 60-64 |
Age 65-69 |
Age 70+ |
| $10,000 | $ 0.70 | $ 0.70 | $ 1.00 | $ 1.30 | $ 1.60 | $ 2.40 | $ 4.00 | $ 7.40 | $ 9.30 | $ 16.80 | $ 27.20 |
| $20,000 | $ 1.40 | $ 1.40 | $ 2.00 | $ 2.60 | $ 3.20 | $ 4.80 | $ 8.00 | $ 14.80 | $ 18.60 | $ 33.60 | $ 54.40 |
| $30,000 | $ 2.10 | $ 2.10 | $ 3.00 | $ 3.90 | $ 4.80 | $ 7.20 | $ 12.00 | $ 22.20 | $ 27.90 | $ 50.40 | $ 81.60 |
| $40,000 | $ 2.80 | $ 2.80 | $ 4.00 | $ 5.20 | $ 6.40 | $ 9.60 | $ 16.00 | $ 29.60 | $ 37.20 | $ 67.20 | $ 108.80 |
| $50,000 | $ 3.50 | $ 3.50 | $ 5.00 | $ 6.50 | $ 8.00 | $ 12.00 | $ 20.00 | $ 37.00 | $ 46.50 | $ 84.00 | $ 136.00 |
| $60,000 | $ 4.20 | $ 4.20 | $ 6.00 | $ 7.80 | $ 9.60 | $ 14.40 | $ 24.00 | $ 44.40 | $ 55.80 | $ 100.80 | $ 163.20 |
| $70,000 | $ 4.90 | $ 4.90 | $ 7.00 | $ 9.10 | $ 11.20 | $ 16.80 | $ 28.00 | $ 51.80 | $ 65.10 | $ 117.60 | $ 190.40 |
| $80,000 | $ 5.60 | $ 5.60 | $ 8.00 | $ 10.40 | $ 12.80 | $ 19.20 | $ 32.00 | $ 59.20 | $ 74.40 | $ 134.40 | $ 217.60 |
| $90,000 | $ 6.30 | $ 6.30 | $ 9.00 | $ 11.70 | $ 14.40 | $ 21.60 | $ 36.00 | $ 66.60 | $ 83.70 | $ 151.20 | $ 244.80 |
| $100,000 | $ 7.00 | $ 7.00 | $ 10.00 | $ 13.00 | $ 16.00 | $ 24.00 | $ 40.00 | $ 74.00 | $ 93.00 | $ 168.00 | $ 272.00 |
|
Dependent Life Insurance - Spouse Monthly Rates |
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|
The premium for the Optional Spouse rates must be based on the
age of the Employee |
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|
Amount of Coverage |
Age 20-24 |
Age 25-29 |
Age 30-34 |
Age 35-39 |
Age 40-44 |
Age 45-49 |
Age 50-54 |
Age 55-59 |
Age 60-64 |
Age 65-69 |
| $10,000 | $0.60 | $0.80 | $1.00 | $1.20 | $1.50 | $2.20 | $4.00 | $6.50 | $11.80 | $19.60 |
|
|
|
|
Amount of Coverage |
Monthly Rate for any number of eligible children |
|
$5,000 |
$0.54 |
