1 To age 95. In some program designs, if the employer replaces the MetLife GVUL with group life insurance from another insurer or otherwise terminates the MetLife GVUL group contract, employees' MetLife GVUL coverage may also be terminated, even after separation from employment or in retirement.
2 Participation should be based on an employee’s tolerance for risk.
3 Product guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company.
4 Withdrawals and loans reduce cash value and death benefit. In general, if the funding of the certificate exceeds certain limits, it will become a “modified endowment contract”(MEC) and become subject to “earnings first” taxation on withdrawals and loans. An additional 10% penalty for withdrawals and loans taken before age 59½ will also generally apply. We will notify the employee contribution would cause his or her certificate to become an MEC.
5 Will Preparation and MetLife Estate Resolution ServicesSM are offered by Hyatt Legal Plans, Inc., Cleveland, Ohio, a MetLife company. In certain states, legal services benefits are provided through insurance coverage underwritten by Metropolitan Property and Casualty Insurance Company and Affiliates, Warwick, Rhode Island, a MetLife company. In certain states, Will Preparation and MetLife Estate Resolution Services are subject to regulatory approval and are not currently available. In certain states, Estate Resolution Services cannot be made available to residents without that state’s approval. MetLife Estate Resolution Services is available for customers with over 500 eligible employees, subject to state approval and regulation.
Like most group life insurance policies, MetLife group policies contain certain exclusions, reductions, limitations, and terms for keeping them in force. Please contact us for costs and complete details.
The information contained in this communication is not intended to (and cannot) be used by anyone to avoid IRS penalties. This communication supports the promotion and marketing of GVUL. Employees should seek tax advice based on their particular circumstances from an independent tax advisor.
Prospectuses for Group Variable Universal Life insurance and its underlying portfolios can be obtained by calling (800) 685-0124. You should carefully consider the information in the prospectuses about the contract’s features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios. Please read the prospectuses and consider this information carefully before investing. Product availability and features may vary by state. All product guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company.
The amounts allocated to the variable investment options of an insured’s account balance are subject to market fluctuations so that, when withdrawn or surrendered it may be worth more or less than its original value.
Group Variable Universal Life insurance is issued by Metropolitan Life Insurance Company (MLIC), New York, NY 10166 and is distributed by MetLife Investors Distribution Company (MLIDC) (member FINRA), Irvine, CA. 92614. Securities products offered through MetLife Securities, Inc. (MSI) (member FINRA/SIPC). MLIC, MLIDC and MSI are MetLife companies. MetLife’s standard certificate forms, available on or after 5/1/09 include: Certificate Forms G.24300(2003); G.24300A(2003); NY-G.24300-STOCK and G.24300A-STOCK. Coverage may also be provided on MetLife’s previous standard Policy Forms 30037(6/96); FL-3003709(5/2005); IN-3003713(6/96); MA-3003720(6/96); MD-3003719(6/96); MN-3003722(6/96); MS-3003723(5/2005); NE-3003726(6/96); NY-3003731(5/2005); OK-3003735(6/96); OR-3003736(5/2005); PA- 3003737(6/96); SC-3003739(6/96); SD-3003740(6/96); and TX-3003772(5/2005).
