Protect your family’s financial security and start building savings today.

MetLife’s Group Universal Life (GUL) insurance is a single policy with two benefits — life insurance and a savings feature.

  • Permanent – protect your family while saving for the future.3
  • Portable – take it with you at active group rates if you change jobs or retire.3
  • Flexible – update your policy as your needs change.
  • Easy – contribute via payroll deduction and/ or a lump-sum contribution at any time during the year.
  • Accessible – obtain your cash value at any time through loans and withdrawals with no surrender charges or tax penalties.4
  • Tax-advantaged – all potential interest on your savings can be withdrawn tax-free under certain conditions.4
  • Tax-free withdrawals – if your total cash value does not exceed the total cost basis, your entire withdrawal is tax-free.4
  • Customizable – exercise the option to contribute additional savings dollars into an interest bearing account with a minimum guaranteed rate of return.5

To speak with a GUL Benefits Specialist, call 800-756-0124,
Monday - Friday, 7:00 am - 7:00 pm CT

Learn more about the savings feature

Enroll or update coverage


One policy, two benefits

Life insurance with a savings option can help you maintain your family’s financial security in the future and in the present.

Do you have the right coverage for you?

No matter where you are in life, we want you to feel financially secure. Planning ahead and evaluating your life insurance needs is a smart way to make sure you’re protected as your needs and responsibilities change over time. Click on these examples to find out how much coverage you may need. Or use our online calculator to get your personalized recommendation.

Coverage needs

Family of four

This family should consider $1,900,000 to replace income, pay off mortgage and debt and fund college expenses.

Single parent

This single parent should consider $800,000 to replace income, pay off debt and fund college expenses.

Empty nesters

This couple should consider $735,000 each to replace income and supplement retirement savings.

With one parent as primary care giver and one as the primary income earner, this family wants to make sure their life insurance will cover that income.

How much life insurance do you need?

To speak with a GUL Benefits Specialist, call 800-756-0124,
Monday - Friday, 7:00 am - 7:00 pm CT

Tax-Deferred1 Savings Feature

Build your cash on a tax-advantaged basis.1


Life insurance:2 While you are actively at work for the employer offering your GUL program, you can typically apply for more coverage at the program anniversary each year. In addition, some programs may allow coverage increases at any time, or within a specified time period following a change in family status. If you terminate employment with this employer, and begin paying premiums directly, you still have the ability to apply for more coverage. Check your Plan Summary for details.

Savings contributions: You can begin saving or make changes to your savings contributions at anytime during the year by accessing your GUL enrollment site.

The easiest way to update your coverage is online. However, some plans may require you to complete a paper form. See your Plan Summary for details on updating your coverage.2

When you enroll for GUL insurance coverage, you become the owner of a permanent life insurance certificate. As the certificate owner, you have the ability to control your life insurance coverage amount and your tax-deferred savings contributions (if any), and to name your life insurance beneficiary.

You may choose to “assign” ownership of your coverage to another individual or entity. Once you transfer ownership of your certificate, that individual or entity will have control over selecting your life insurance coverage amounts, savings contributions, etc. You should speak with a financial professional before making any changes to your certificate.

Yes. After consultation with an independent tax advisor, you may wish to transfer any accumulated cash value and/or cost basis from another permanent life insurance certificate into your MetLife GUL certificate. This can be accomplished via a 1035 Exchange (named after the section of the Internal Revenue Code which provides for the exchange to be tax-free), which transfers the value of the existing life insurance certificate into your MetLife certificate.

Yes, you can continue your coverage at competitive6 group rates under the portability option if you leave your company or retire.3

Enroll or update coverage


To speak with a GUL Benefits Specialist, call 800-756-0124,
Monday - Friday, 7:00 am - 7:00 pm CT

1 Earnings within your GUL coverage grow income tax-free while the policy stays in force. Please consider your time horizon, tax rates, and the effect of fees and expenses, including any premium expense charge, when evaluating the benefit of GUL tax deferral. See your Certificate for complete information. 

If you choose to apply for increased coverage, the increase may be subject to underwriting. MetLife will review your information and evaluate your request for coverage based upon your answers to the health questions, MetLife’s underwriting rules and other information you authorize us to review. In certain cases, MetLife may request additional information to evaluate your request for coverage. 

3 To the maturity age specified in your certificate. In some program designs, if your plan sponsor replaces MetLife GUL with another group life insurance plan or otherwise terminates the MetLife group policy, your coverage may also be terminated, even after retirement or separation from employment. Rates may increase if you leave your employer or are no longer eligible under the group and choose to continue your coverage. If you have ported or otherwise continued your coverage after retirement or separation from employment and the plan sponsor later terminates the group policy, cost of insurance rates may increase as a result of such termination.

4 In general, participants may withdraw cash value equal to premiums paid without tax consequences. However, 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 to MECs. We will notify you if a contribution would cause your certificate to become a MEC. Withdrawals and loans will reduce the death benefit and cash value and thereby diminish the ability of the cash value to serve as a source of funding for cost of insurance charges, which increase as you age. Withdrawals are subject to an administrative fee of 2% of the amount withdrawn, not to exceed $25. Outstanding loan amounts do not participate in the interest credited to the interest-bearing account and can have a permanent effect on certificate values and benefits. Upon surrender, lapse, or case termination, including those circumstances where termination of the group contract results in termination of individual certificates/policies, loans become withdrawals and may become taxable to the certificate owner.  

5 The current crediting rate on an interest-bearing account is subject to change without notice but will not fall below the guaranteed minimum in your certificate. Guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company.

6 Cost of insurance rates are determined using methodologies that vary by company. These rates can vary and will generally increase with age. Rates for active employees may be different than those available to terminated or retired employees. It’s important to look at all factors when evaluating the overall competitiveness of rates and the value of life insurance coverage.

Nothing in these materials is intended to be advice for a particular situation or individual. Please consult with your own advisors for such advice. Like most insurance policies, MetLife GUL contains exclusions, limitations, and terms for keeping it in force. MetLife can provide you with costs and complete details.

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 website should not be construed as such. Please seek advice based on your particular circumstances from a qualified tax advisor. Group Universal Life insurance (GUL) is issued by Metropolitan Life Insurance Company (MLIC), New York, NY 10166, and distributed by MetLife Investors Distribution Company (MLIDC) (member FINRA). MLIC and MLIDC are MetLife companies. Certificate Form 3002537 (1/95) As amended by form 3E5937 (5/2005).