Supplemental Term Life
Supplemental Term Life Insurance
Life insurance is a simple answer to a very tough question: How will my family manage financially when I die?
Supplemental Term Life insurance serves as a foundation of financial protection and is offered through MetLife. This plan provides flexible, valuable protection and includes a Financial Counseling Service. Please watch the Supplemental Term Life Insurance video for more information on this benefit.
Guarantee Issue (No Medical Questions Asked) Amount
For the 2019 open enrollment, eligible employees were able to enroll in up to $400,000 of coverage.
Guarantee Issue limits for employee, spouse, and children include prior purchases. In order to cover your dependents, you must also be enrolled. Reduced benefits apply starting at age 70.
For new coverage and changes to existing coverage applied for during the 2019 open enrollment period, coverage will be effective on May 1, 2019 for amounts under the Guarantee Issue Limits. Coverage amounts above the Guarantee Issue Limit will be effective the first day of the month, coincident or following the date, MetLife approves coverage.
|Plan Feature||Benefit to You|
|Coverage Options||Employee Only, Employee & Spouse, Employee &
|Benefit Amounts||Employee: Increments of $10,000 up to $500,000; or a flat amount of $600,000 or $700,000; max benefit is the lesser of 7x your earnings and $700,000
Spouse: Up to 100% of employee's amount (in $5,000 increments); max benefit of $700,000
Child(ren): $2,000 increments up to the max benefit of $10,000 ($1,000 for a child between the ages of live birth and six months).
|Guarantee Issue||Employee: Up to $400,000 (in $10,000 increments) or a max benefit of 7x your earnings, whichever is lesser.
Spouse: 100% of employee's elected amount, up to $70,000
Child(ren): 100% of Employee Benefit up to $10,000
|Financial Counseling Service||This service provides you access to financial experts in areas such as family budgeting, credit problems, tax questions, estate planning, investment options, money management and retirement planning.|
|Living Care Benefit||This benefit allows up to 100% of the policy's death benefit (to a maximum of $500,000) to be paid before death if the insured has a qualifying terminal illness and meets all terms and conditions of the policy.|
|Waiver of Premium||If it is determined that you are totally disabled, your life insurance benefit will continue without payment of premium, subject to certain conditions.|
|Portability||Allows you to continue this insurance program should you leave your employer (subject to plan provisions), without having to provide evidence of insurability (information about your health).|
|Access to MetLife AdvantagesSM||A comprehensive suite of valuable services for support, planning and protection needs, including Face-to-Face Will Preparation and Estate Resolution Services. These services are included in your plan at no additional cost to you.|
Important Eligibility Guidelines
You must be actively at work as defined in the policy in order for coverage to take effect.
Dependent insurance (for your spouse or children) may also be available, but only when you, as the employee, also select coverage for yourself. A dependent must be performing normal activities and cannot be confined as defined in the policy in order for coverage to take effect.
When both you and your spouse are eligible for insurance under this policy as an Employee, you may each enroll either as an Employee or the Dependent of an Employee, but not both. Dependent children can be insured only under one parent.
You are eligible for Guarantee Issue coverage during a Benefits for Life Open Enrollment Period or when you first become eligible to apply. Coverage over the Guarantee Issue amount(s) or any coverage applied for beyond your initial open enrollment date will be subject to evidence of insurability (answering health questions).
Note: Certain medical conditions may require a physician statement or paramedical examination.
Enrolling for Coverage
Eligible employees and their dependents may enroll in coverage as a new hire, within 60 days of the employees hire date or during the Benefits for Life Open Enrollment period. Changes in existing coverage are limited to your initial enrollment period, Benefits for Life Open Enrollment, and Qualifying Life Events. If you previously enrolled in Supplemental Term Life Insurance and you would like to terminate the coverage you may do so at any time throughout the year.
Increases in previously purchased insurance, up to the Guarantee Issue amount(s) without evidence of insurability may be performed during the annual Benefits for Life Open Enrollment period. Any increases in coverage beyond the Guarantee Issue amount(s) during that time will be subject to evidence of insurability.
Note: Reduced benefit coverage amounts apply for you and your dependent spouse at the age of 70 or older.
The MyBenefits web site is a tool you can use throughout the year to review your benefits, view and update beneficiaries, calculate your coverage needs, and locate customer support contacts. If this is your first time visiting the site please select the “Register Now” link on the home page to create a username and password.
Qualifying Life Events
If you experience a qualifying life event during the year, you may be able to increase your coverage or add dependent coverage up to the Guarantee Issue amount(s) without evidence of insurability. In most cases, you may only increase your coverage or add dependent coverage if the increase or addition is consistent with the family status change.
Qualifying life events include: marriage, birth, adoption, divorce, the death of a dependent, your dependent ceasing to qualify as a dependent, and a change in you or your dependent's employment status.
You will have 60 days from the date of the qualifying life event to request a change in coverage.
Life insurance benefits will not be paid if the insured's death is the result of suicide within two years from the date of issue. If this occurs, the sum of the premiums paid will be returned to the beneficiary. The same applies for any future increases in coverage under this plan.
File a Supplemental Term Life Claim
To file a Supplemental Term Life claim, a special service has been set up for the State of Michigan. A beneficiary can call 800-218-4267 and MetLife will take all the required information necessary to file a claim over the phone. If the policy is through Mutual of Omaha, a beneficiary can call 800-283-9591.
Supplemental Term Life Sample Rates
Shown below are sample bi-weekly rates for Supplemental Term Life insurance for a non-smoker at ages 30, 40, and 50 with $20,000 of coverage. After you enroll, premiums will increase based on a 5-year age band structure. Age band premium increases will take effect on on June 1, following the date you attain the age.
|Age||$20,000 of Coverage - Bi-Weekly Rate (26 Per Year)|
Review the MetLife Supplemental Term Life Insurance rate charts and certificate by visiting benefitsforlife.org, locate the section on the right side of the page "Benefits for Life (BFL) State of Michigan Voluntary Benefit Program for Active Employees," then select the drop down "Supplemental Term Life Insurance - MetLife."
Like most group insurance policies, MetLife group life insurance policies contain certain exclusions, limitations and requirements for maintaining coverage in force. Any such exclusions, limitations and requirements will be described in the life insurance certificate.