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Plan Benefits

Group Universal Life Insurance

Group Universal Life Insurance: One policy, two benefits

Group Universal Life combines valuable life insurance protection with an optional savings feature. So, in one policy, you can provide financial protection for your loved ones in the event of your death and build cash savings that you can use during your lifetime such as – child’s education, buying a home or living comfortably in retirement.

  • Life Insurance is an essential part of an overall financial plan. It’s important you plan ahead with enough life insurance coverage to help ensure a continued lifestyle for those who may depend on you. And, your financial plan doesn’t end when you change jobs or retire, so it’s important to have life insurance that doesn’t end at that time as well. Your GUL insurance coverage is an individually-owned and portable1 policy, which means you have the freedom to take it with you if you retire or leave UUP – at competitive group rates. Life insurance coverage up to $1.2 million is available.
  • Savings Feature builds Cash Savings for the Future. Your GUL policy helps you build cash value by providing you the option to contribute after-tax dollars, in addition to the life insurance premium, into your policy. The money you contribute to the policy earns a competitive interest rate that is guaranteed3 not to fall below a certain minimum. All interest on those dollars grows tax-deferred, so you get to keep more of what you’ve earned. Current interest crediting rate is 3%.4

MetLaw®

Legal coverage through MetLaw means added peace of mind for you and your dependents.

Having to hire an attorney can be very stressful if you don’t know where to go or how much it will cost. MetLaw makes it very simple to get the legal advice and the representation you need without draining your finances. This group benefit features:

  • Affordable assistance for a wide range of legal needs, including wills and other estate planning documents, real estate matters, traffic offenses, adoptions, debt collection defense and much more
  • One low monthly cost for unlimited use and no copays when using a Network Attorney
  • Members can cover parents and parents-in-law for certain services5
  • Easy access to more than 14,000 professionally selected Network Attorneys