Mark III Employee Benefits - Elizabeth City Pasquotank Schools, NC


*Elizabeth City Pasquotank Schools, NC \|* Plan Year: September 1, 2006 to August 31, 2007


	Whole Life Plan

	Whole Life Plan Details


	MetLife Whole Life Contact







	Please call your Personnel Office for all questions concerning this plan.

Flexible Spending Accounts | Cancer Plan | Dental Plan | Disability Plan

Whole Life Insurance | Vision Plan | Term Life Insurance

The Voluntary Permanent Life Program is an addition to your current term life coverage. This program will allow you to purchase permanent life insurance for you and your eligible dependents.

Term Insurance Review
The current Term Program is an inexpensive way for you to provide group term life insurance coverage on you and your eligible dependents. The Term Life Program provides competitive premiums while you are employed. If you leave your employer for any reason, the term insurance ends. A conversion or portability policy is available without medical questions if you elect to convert/port within 31 days of termination or retirement, and will be converted/ported at your attained age. The higher cost of individual life insurance at retirement age can be avoided by the purchase of a guaranteed premium whole life insurance policy now.

Voluntary Life Insurance Program

Employee Coverage
First time eligible employees between the ages of 18 and 70 who are actively at work may apply for an amount of whole life insurance up to two times their annual base pay to a maximum of $150,000 with only three health related qualifying questions asked. Eligible employees may apply up to 3 times their annual base pay to a maximum of $500,000 on a fully underwritten basis. Certain tests &/or examinations may also be required under Simplified Issue or when fully written. All eligible employees are asked to sign an acceptance or a waiver. The minimum policy size for employees varies by age as follows:

Spouse and Dependent Coverage
An employee’s spouse age 18 to 55 may apply for coverage equal to 2 times the employees annual base pay up to a maximum of $50,000. An employee’s spouse age 56 to 70 may apply for coverage equal to 1 times the employee salary up to a maximum of $25,000. An employee’s unmarried dependent children, stepchildren, or legally adopted children ages 14 days through 19 years may apply for up to $25,000 of coverage. Dependent children ages 20 to 25 are eligible if they are regularly attending college, or professional or career schools for high school graduates.

Streamlined Underwriting
Employees who sign up when they are first eligible can obtain coverage by satisfactorily answering only three health-related questions --- with no physical exam required. Dependents that meet the eligibility criteria and sign up when they are first eligible can obtain coverage by answering simple health-related questions.

Tax-deferred Cash Value
Employees build long-term cash values with the added advantage of tax deferral. As these funds grow, employees can use them for their financial needs through a policy loan.

Flexibility
Each employee designs a personal life insurance program to meet his or her individual needs. Individual insurance protection is available on eligible spouses and dependent children, even if the employee does not elect personal coverage.

Guaranteed Level Premiums
Affordable premiums are guaranteed to remain level throughout the life of the policy.

Payroll Deduction
Since the premium for these policies are paid through payroll deduction, the employee is not bothered by monthly check writing or mailing premiums. This means less bookkeeping for you.

Portability
Individual policies are the property of each employee; so upon retirement or changing employment, employees can continue to protect their families at the same guaranteed rates.

Post Retirement Protection
Employees can plan for their post-retirement insurance coverage while they are working. The whole life policy offers paid-up insurance options which allow you to keep a lower amount of permanent protection without continuing premium payments.

Enrollment
Enrollment is simple - all that is required is that you meet with the MetLife Enrollment Specialist to complete an application.

Beneficiary
You have the right to designate the beneficiary of your choice under the employee coverage. You are automatically the beneficiary of dependent policies, unless otherwise designated.

Easy Underwriting
In order for you to qualify for MetLife’s Whole Life Insurance coverage,

1. You must be actively at work, full time, performing all duties of your regular occupation at your customary place of employment.

2. You must certify that during the past 3 months you have not missed more than 5 consecutive working days due to illness or medical treatment.

3. You must also certify that during the past 3 months you have not been disabled, have not received treatment or care in a hospital, hospice, custodial, intermediate, skilled nursing or long term care facility; have not received chemotherapy, radiation therapy or dialysis treatment; and have not received treatment at a hospital or rehabilitation center for alcohol or drug abuse.

Applying for higher amounts of insurance coverage may require answering additional medical questions and certain tests may be required. Eligible dependents applying for MetLife’s whole life insurance coverage must meet these same qualifications in addition to completing a more comprehensive medical history review.

When Your Coverage Starts
Coverage begins once the employee (and eligible spouse or child, if applicable) completes and signs the application and payroll deduction authorization, according to the terms of the Temporary Insurance Agreement. The Temporary Insurance Agreement offers the same amount of protection you applied for to a maximum of $250,000 of coverage while the application is being reviewed.

If your application is accepted, you will receive a policy in approximately 4 to 6 weeks from the first deduction date. You will receive a notification if your policy is declined.