Elections (changes or enrollments) for OTL and AD&D, under the IBM Group Life Insurance Plan, can be made at any time during the year. However, enrollments in OTL may be subject to completing a medical review, with one exception*.
*Exception: During Annual Enrollment (during the fall of each year) only, IBMers who are currently enrolled in OTL for themselves can increase their OTL insurance by one (1) level of coverage, up to the lesser of three (3) times annual base pay or $750,000, without having to complete a medical review.
What’s the minimum amount of life insurance you should have?
To help you get an idea of how much to consider, try our calculator tool. Keep in mind that the amount of IBM-provided GLI insurance and other amounts of life insurance you or your spouse/domestic partner may have should be taken into consideration.
1 When a medical review is required, MetLife evaluates 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.
2 This enrollment opportunity only applies to employees who are not considered Retiree Supplemental employees. Retiree Supplemental employees, and their spouse/domestic partner, will need to complete a medical review for all amounts of life insurance they enroll for.
3 If you are not actively at work, you will not be able to enroll in coverage for yourself or your dependents until you return to active work.
4 Will Preparation Services and Estate Resolution Services are provided by MetLife Legal Plans, Inc., Cleveland, Ohio. These services are provided at no additional cost to those who purchase employee term life insurance.
5 Beneficiary Grief Counseling services are provided through an agreement with LifeWorks. US Inc. LifeWorks is not an affiliate of MetLife, and the services LifeWorks provides are separate and apart from the insurance provided by MetLife. LifeWorks has a nationwide network of over 30,000 counselors. Counselors have master’s or doctoral degrees and are licensed professionals. This program is available only to beneficiaries of MetLife group Life Insurance programs. Events that may result in a loss are not covered under this program unless and until such loss has occurred.
6 OTL spouse/domestic partner coverage: The amount of OTL your spouse/domestic partner is able to enroll in is contingent on the amount of life insurance you are eligible for under the IBM Group Life Insurance Plan. For example, if you are eligible for 2 times annual base pay, rounded to the next higher $1,000 (if applicable), for IBM-provided GLI and 10 times annual base pay, rounded to the next higher $1,000 (if applicable), under OTL, your spouse/domestic partner cannot enroll in life insurance greater than the dollar amount of 12 times your annual base pay, rounded to the next higher $1,000 (if applicable), or $6,000,000, whichever is less.
7 Travel Assistance and Identity Theft Solutions services are administered by AXA Assistance USA, Inc. Certain benefits provided under the Travel Assistance program are underwritten by Certain Underwriters at Lloyd’s London (not incorporated) through Lloyd’s Illinois, Inc. Neither AXA Assistance USA Inc. nor the Lloyd’s entities are affiliated with MetLife, and the services and benefits they provide are separate and apart from the insurance provided by MetLife.
8 AD&D spouse/domestic partner coverage: The amount of AD&D insurance your spouse/domestic partner is able to enroll in is contingent on the amount of AD&D insurance you are eligible for under the IBM Group Life Insurance Plan. For example, if you are eligible for 10 times annual base pay, rounded up to the nearest $1,000 (if applicable), under AD&D insurance, your spouse/domestic partner cannot enroll in AD&D insurance greater than the dollar amount of 10 times your annual base pay, rounded up to the nearest (if applicable), or $500,000, whichever is lesser.
These materials are intended to provide an overview of certain IBM plans and programs in which you may be eligible to participate. These materials are not an official Summary Plan Description and do not provide full details. The formal plan documents are the complete and exclusive statement of the company’s obligations under the Plan. The official Plan documents shall govern in the event of a conflict between the terms of the Plan documents and information contained in these or any other documents and statements. The Plan Administrator retains exclusive authority and discretion to interpret the terms of the IBM benefit plans and programs described herein.
Nothing in these materials is intended to be advice for any particular situation or individual. Life insurance benefits available under the IBM Group Life Insurance Plan are provided under MetLife group life insurance policies which, like most group insurance policies, contain certain exclusions, limitations and requirements for maintaining coverage in force. Any such exclusions, limitations and requirements will be described in the insurance certificate and/or the IBM Group Life Insurance Plan formal plan documents.