Group Term Life: MetLife is the leading provider of Group Life Insurance, with more than $1.9 trillion of group life insurance in force1 and over 28,000 Group Life customers, covering more than 34 million participants.2 Our financial strength and experience allow us to offer you several group term life insurance options (based on individual state requirements).
Basic Term Life: One year renewable group term life insurance that provides a scheduled benefit or multiple of earnings amount to an employees beneficiary in the event of the employee's death.
Supplemental Term Life: Offers employees the opportunity to buy flexible amounts of life insurance at group rates. This option allows each individual to meet his/her need for additional amounts of insurance at little or no cost to the employer.
Dependent Term Life: As an enhancement to our Basic Term Life plan, we offer Dependent Life insurance for employees who wish to purchase term life insurance for their spouses and/or children at group rates.
Accidental Death and Dismemberment (AD&D): Provides 24-hour-a-day, 365-day-a-year coverage for your employees in the event of severe injuries, paralysis or death resulting from accidents on or off the job.
Business Travel Accident Insurance (BTA)3: MetLife’s Business Travel Accident Insurance is a form of “blanket insurance” that provides benefits for accidental death and dismemberment that may occur while traveling on company business.
BTA offers employers the flexibility to customize their plan designs and benefit amounts to meet their unique business travel needs. And in terms of customization, MetLife can cover all employees or specific employee classes, and can include coverage for non-employees, such as board of director members and consultants,4 as well as offer our clients the convenience of consolidating their Life, AD&D and BTA coverages with one carrier.
Plan Enhancements:
Travel Assistance,5 is a valuable enhancement to Basic, Supplemental and Voluntary AD&D coverages. This benefit gives employers and their employees access to emergency services such as: medical assistance, guaranteed hospital admission and political evacuation arrangement services when they are traveling 100 miles from their home. They also receive support for non-emergencies including help with accessing financial and legal resources. These services are offered through a relationship with AXA Assistance USA, Inc., an industry leader in travel assistance.
Identity Theft Solutions, an additional benefit packaged with Travel Assistance, educates employees and dependents on preventing an occurrence and provides personal assistance and guidance to help alleviate the stress and time burden that victims face. Employees are provided with:
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Education and Protection including: the identity theft risk & prevention tool kit and resolution guide.
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Personal Guidance including: filing and obtaining police and credit reports, contacting creditor fraud departments, taking inventory of lost or stolen items and more.
Employees don’t have to be traveling to use this benefit; it is accessible whether they are home or away.
Total Control Account®(TCA): The TCA Money Market Option is the standard settlement option for all life benefits of $5,000 or more. The TCA helps to provide financial flexibility and security to employees' beneficiaries through immediate access to, and control of, their insurance proceeds. These benefits are paid through an interest-bearing account with the principal and interest guaranteed by MetLife, with free check writing privileges.
The Accelerated Benefit Option (ABO): To help ease the financial burden that often accompanies a serious illness, ABO allows terminally-ill insureds with a life expectancy of 12 months or less to receive an advanced pay-out of a percentage of their group life insurance benefits. Available to covered individuals, with a minimum $500,000 of coverage, insureds may accelerate a portion of the face amount of their insurance to a maximum of $500,000.
Waiver of Premium: Allows covered employees to receive death benefit coverage after life insurance coverage ends, if they become totally disabled and are not at work due to such disability. "Waiver of Premium" waives premium for totally disabled employees after a specified waiting period.
In addition, our concern for your employees is echoed in our value-added Life Advice® program, available at no cost.
Like most group life insurance policies, MetLife group policies contain exclusions, limitations, reductions of benefits and term for coverage. Please contact us for costs and complete details.
