Supplemental Life Insurance
Supplemental Life insurance increases your coverage amount, enhancing your Basic Life insurance, to meet your needs. This type of insurance can help cover expenses like outstanding debts or provide support for your dependents.
Supplemental Life insurance provides:
Optional additional protection
Provides enhanced coverage amounts beyond your employer-provided Basic Life insurance – paid for by you
Peace of mind
Ensure your family is taken care – this coverage pays an additional benefit to your beneficiary if you pass away
Coverage options to suit your needs
Standardly offered in increments of $10,000 of coverage
Supplemental Life Schedule of Benefits
Details on your Supplemental Life benefit can be found in your Life Schedule of Benefits, which will list the benefit along with the benefit amount and highlights. Supplemental Life amounts are listed in the same table with your Basic Life information. Your Supplemental Life amount can be either a flat amount (for example, $100,000) or a multiplier of your salary (for example, two times your basic annual earnings).
A sample Schedule of Benefits with Supplemental Life insurance is below. Please note that each company’s benefits may differ.
Note: Any amount of Life Insurance in excess of the Guaranteed Issue Amount is subject to Evidence of Insurability. Learn more about Evidence of Insurability.
Sample Schedule of Benefits with Supplemental Life insurance
| Benefit | Benefit amounts and highlights |
|---|---|
| Basic Life Insurance | An amount equal to .5 times your Basic Annual Earnings |
| Minimum basic life benefit | None |
| Maximum basic life benefit | $500,000 |
| Accelerated benefit option | Up to 80% of your Basic Life/Supplemental Life Amount, not to exceed $250,000 |
| Supplemental Life Insurance | 1, 2, 3, 4, or 5 X Base Annual Earnings |
| Guaranteed Issue amount | The Guaranteed Issue Amount for Basic Life Insurance and Supplemental Life Insurance is $500,000. Any amount of Life Insurance in excess of the Guaranteed Issue Amount is subject to Evidence of Insurability. |
| Disability provision |
Extended Death. |
Calculating your supplemental life rate
Supplemental Life insurance monthly rates are usually per $1,000 of insurance. To calculate your cost, multiply the rate per $1,000 of coverage by the number of units selected.
For example, to figure out the monthly price for $100,000 in coverage, you would multiply the rate by 100 ($1,000 units).
Obtain your rate information from your employer or your company benefits website.
How to submit a Supplemental Life insurance claim
If you pass away, your employer or beneficiary should submit a claim to MetLife for payment. Supplemental Life claims will be paid automatically with a Life claim, so there are no additional steps required to receive the Supplemental Life claim.