Benefits and premiums

Why life insurance makes sense

What does optional life insurance protect?

Let’s start with your peace of mind.

  • Life insurance can cover your family’s needs if you’re not there, including food, bills and debt.
  • It can help pay for your childrens’ education.
  • It can help ensure your family stays in their home.
  • And help take care of those who depend on you.

In short, life insurance can help replace your paycheck if you aren’t there to earn it.

When life changes, so should your life insurance.

  • New family members, a new job, a move or even a raise all mean that your life insurance needs have changed.
  • Review your protection every year during your benefits enrollment.
  • There’s even a possibility your financial needs may decrease over time.

Life insurance costs less than you think.

  • With term life insurance, you can protect your family for a small fraction of your annual salary — about 1%, according to MetLife estimates.1
  • Compare that to the fact you’re insuring years of income.

Life insurance is a smart financial move.

  • Life insurance is a predictable financial option.
  • Beneficiaries receive the proceeds of your policy income-tax free.

Get an idea of how much life insurance might be right for you.

  • A rule of thumb is 60% of your annual income times years to retirement. Try our coverage estimator tool here.

Now that you know how life insurance can help you protect those who depend on you, take a moment and get the coverage you need.

 

Basic Life insurance

You are automatically enrolled in Basic Life insurance if you are an eligible employee. You receive this benefit at no cost.

Plan Design

Basic Life

Class 1:  Superintendents

$300,000

Class 2:  Executives

$200,000

Class 3:  Asst. & Deputy Superintendents

$100,000

Class 4:  All Other FT Employees

$50,000

Class 5:  Tutors

$20,000

Class 6:  Part Time Employees

$25,000

Optional Life insurance

The optional life insurance program is a voluntary benefit in which you pay the entire premium. Employees can enter the optional life plan at initial date of hire or at annual enrollment without submitting Statement of Health.

Plan Design

Optional Life

Class 1:  Superintendents

Not Eligible

Class 2:  Executives

Not Eligible

Class 3:  Asst. & Deputy Superintendents

$50,000

Class 4:  All Other FT Employees

$50,000

Class 5:  Tutors

Not Eligible

Class 6:  Part Time Employees

$25,000

1 Source: MetLife premium data. Your actual cost can vary based upon the amount of coverage and the rate. Rates for optional insurance vary depending upon such things as gender, age, class, health and other underwriting factors.