Your family depends on your income for a comfortable lifestyle and for the resources necessary to make their dreams a reality. Life insurance ensures your family’s future is financially secure if you’re no longer there to provide for them.
Voluntary Life and Accidental Death and Dismemberment Insurance give you the ability to assemble a complete Life Insurance portfolio. You pay the total cost of these benefits through convenient payroll deductions.*
For more information call MetLife at 1-877-ADPTS01 (877-237-8701).
Voluntary Term Life |
Voluntary AD&D** |
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|---|---|---|
Employee |
Employees may enroll in $10,000 to $750,000 of coverage, in $10,000 increments, not to exceed $750,000. If you are a new hire and apply for $10,000 - $100,000 of coverage no medical questions are required. Applying for coverage in excess of $100,000 will require you to answer medical questions. |
Employees may enroll in $50,000 to $750,000 in coverage subject to a plan maximum of the lesser of 10X annual salary or $750,000. |
Spouse |
Spouse/Domestic Partner coverage is available in increments of $5,000 to a maximum of $100,000, not to exceed 100% of employee coverage amount. If you are a new hire and apply for $5,000 - $20,000 of coverage there are no medical questions. Applying for coverage in excess of $20,000 will require you to answer medical questions. |
60% of the employee amount up to $300,000. |
Children |
Child(ren) coverage is $5,000 or $10,000 and no medical questions are required. |
20% of the employee amount up to $150,000. |
How Much Life Insurance Do You Need?
Many financial experts recommend you have at least five to eight times your household income in Life Insurance. To calculate the level sufficient to cover your needs, you should consider your current income and how much it costs to maintain your family’s standard of living. You should also consider your current expenses and your family’s future financial needs such as the following:
Current Expenses
Future Expenses
After you add your financial responsibilities, how does the sum compare with your current coverage?
The premium cost for the Voluntary Term Life benefit is determined by your age and the amount of coverage you elect.
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Basic Term Life |
Voluntary Term Life |
|---|---|
The premiums are fully company paid. |
The premiums are fully employee paid and increase as you age. |
Provides a death benefit to cover your funeral and any final expenses. Depending on the coverage amount, this benefit may cover expenses such as mortgage, tuition, and other household expenses. |
Replaces your income so that your family can cover items like mortgage, tuition, and household expenses. |
If you leave the company, you may have the option to port or convert your coverage. |
If you leave the company, you may have the option to port or convert your coverage. |
Important Resources - Cost of Coverage
*Non-Paid Owners will be direct billed by MetLife for the Voluntary Term Life Coverage. Commission-Only Employees are not eligible for the coverage.
**Non-Paid Owners and Commission-Only Employees are not eligible for the Voluntary AD&D coverage.