Life Insurance
Life insurance is a cost-effective way to protect your family and your finances. It helps ensure your short- and long-term financial obligations could be met if something unforeseen happens to you. What’s more important than knowing your loved ones are protected?
If you elect or increase your life insurance coverage for you or your spouse during annual enrollment, the election will be subject to Evidence of Insurability. MetLife will send you an email requesting the additional information approximately 2 weeks after open enrollment ends.
Life Insurance
Use the MetLife calculator to get an idea of the life insurance coverage level that’s right for you and your family.
Basic Life Insurance is equal to 2X your annual salary rounded up to the nearest $1,000. The cost is share equally by you and the Company. The premium is $0.195 per $1,000 of coverage ($100,000 in coverage would be $19.50 per month).
Supplemental Life Insurance can be elected from 1x to 8x your salary, up to a maximum benefit of $1,000,000. Rates are determined by your age and will increase as you move to the next age band.
Spouse Life coverage can be elected from $10,000 to $50,000 in increments of $10,000. Spouse Life rates are based on age and will increase as your spouse moves to the next age band. Evidence of insurability will be required if your elect or increase your spouse’s life insurance.
Child Life Insurance coverage is $10,000 per child. Coverage is for unmarried children under the age of 26. Cost is $0.65 per month. If you no longer have eligible children, it is your responsibility to cancel this coverage. No evidence of insurability is required.
Tools & Resources
For additional information on Life Insurance coverage details, review the Life and Accident Insurance Chapter in Summary Plan Description.