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Permanent Life

Permanent Life Insurance offers protection for a lifetime.

With the coverage, you have the ability to build cash value that can help you achieve your financial goals.

Common types of insurance at the workplace include:

Group Variable Universal Life: GVUL has a variety of unique features that can help you meet your needs today and in the years ahead. GVUL combines life insurance protection with tax-deferred investment options. This allows you to:

  • Invest additional dollars above the cost of insurance into
  1. variable investment portfolios
  2. an interest-bearing account with a guaranteed minimum interest rate*, or
  3. both.
  • Benefit from earnings growth, generally tax-deferred, on your contributions.
  • Supplement your 401(k) or other qualified savings plans.
  • Access cash value before age 59½, generally without penalty or surrender charges.**

Group Universal Life: GUL insurance can provide you with affordable, guaranteed protection. You can build your policy's cash value by contributing additional dollars into a tax-deferred interest bearing account. With a fixed rate account that never drops below a certain minimum, you can focus on guaranteed protection.*

Additional information

Additional information on Permanent Life insurance:

You should consider Permanent Life Insurance if you want:

  • Lifetime coverage.
  • Income protection with an additional tax-advantaged investment opportunity you can tap into during your lifetime.
  • Flexible funding options.

Some things to keep in mind about Permanent Life Insurance:

  • Current cost - As a general rule of thumb, Permanent Life Insurance tends to be more expensive than Term Life coverage.
  • Flexibility if you leave your employer - You can typically take your coverage with you, should you leave your employer.
  • Tax-deferred investment opportunity - In addition to your premium, you have the option to contribute more money to your coverage, providing you with a tax-deferred growth opportunity.

Prospective purchasers should consider their investment time horizon, tax rates and the effect of any expense charges when evaluating the benefit of tax deferral.

*Guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company.

**In general, if the funding of your 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 you if a contribution would cause your certificate to become a MEC. Withdrawals will reduce your cash value and death benefit.

Any discussion of taxes is for general informational purposes only and does not purport to be complete or cover every situation. MetLife, its agents and representatives may not give tax advice and this document should not be construed as such. Please seek advice based on your particular circumstances from a qualified 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, as well as other information about the underlying funding choices. 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.

There is no guarantee that any of the variable options in this product will meet its stated goals or objectives. Cash value allocated to the variable investment options is subject to market fluctuations so that, when withdrawn or surrendered, it may be worth more or less than the amount of premiums paid.

Like most group life insurance policies, MetLife insurance policies have certain exclusions, limitations, reductions of benefits and terms for keeping them in force. A MetLife representative can provide you with costs and complete details.

Group Variable Universal Life insurance (GVUL) is issued by Metropolitan Life Insurance Company (MLIC), New York, NY 10166, and distributed by MetLife Investors Distribution Company (MLIDC) (member FINRA). Securities, including variable products are distributed through MetLife Securities, Inc. (MSI) (member FINRA/SIPC), 1095 Avenue of the Americas, New York, NY 10036. MLIC, MLIDC and MSI are MetLife companies. MetLife's standard GVUL certificate forms, available on or after 5/1/09 include: Certificate Forms G.24300(2003); G.24300A(2003); NY-G.24300-STOCK and G.24300ASTOCK. 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).

Group Universal Life (GUL) is issued by Metropolitan Life Insurance Company, New York, NY 10166. MetLife's standard Certificate Forms include: Certificate Forms G.9704(2009); G.9704A(2009). Coverage may also be provided on MetLife's previous standard Policy Forms 30024 (1/95); DE-3002407 (2/2008); FL-3002409 (5/2005); IN-3002413 (1/95); KS-3002415 (1/95); LA-3002417 (2/2008); MN-3002422 (1/95); MS-3002423 (5/2005); NY-3002431 (5/2005); OK-3002435 (1/95); OR-3002436 (2/2008); PA-3002437 (1/95); SD-3002440 (1/95); TX-3002472 (5/2005).