MetLife’s term life insurance offers coverage in 10, 15, 20, 25, and 30-year increments, though the total length of these terms is limited by the applicant’s age. Only applicants between the ages of 18 and 69 are eligible for this policy. These policies offer coverage ranging from $25,000 to $500,000, though again, this depends on the applicant’s age.
After the initial term period, the policy converts into a yearly, renewable policy, but be prepared to see your rates increase annually.
Basic Term Life
This is MetLife’s standard term life option, with terms and rates largely set by the employer.
Supplemental Term Life
A supplemental policy allows policyholders to purchase additional life insurance coverage as their needs change over time.
Dependent Term Life
This option allows policyholders to cover their spouse/domestic partner and any eligible children.
Group Universal
MetLife offers universal life insurance that lasts a lifetime, and includes some flexible options that you can use to confidently supplement your income during your retirement years.
Policy Travels with You
If you retire or change companies, MetLife’s policy travels with you, so you can have confidence that this plan stays with you for a lifetime.
Supplements Retirement Income
Universal policies accumulate a cash value that can be borrowed against, providing an additional financial safety net during your retirement years.
Group Variable Universal
Variable universal life insurance offers a few additional options. MetLife’s variable universal policy allows you to pay additional premiums that can be used in a variety of investment options, maximizing your investments.
Cash Value Component
This policy will accumulate cash value that can be borrowed against, or you can withdraw the cash value with no early withdrawal penalty.
Flexible Payments
Policyholders can start and stop their additional premium payments at their discretion, or they can pay a lump-sum payment at their convenience.
Accident Death & Dismemberment
MetLife offers a variety of options for AD&D insurance, though as a workplace-based insurance provider not all customers will have full access to these options. Customers can expect to choose from such policies as:
Basic Accident and Dismemberment
This coverage option pays a death benefit equal to an employee’s term life insurance amount.
Supplemental Accident and Dismemberment
This option adds coverage to the value of supplemental term life insurance, and provides a portion of the death benefit in the event of a qualifying, non-fatal accident.
Dependent Accidental Death & Dismemberment
This option provides dependents with a benefit equal to the dependent term life amount.
Voluntary Accidental Death & Dismemberment
This policy provides stand-alone coverage for employees and their families, and does not depend on enrollment in life insurance.
Business Travel Accident (BTA)
Employers can pay for this option to provide for the death or injury of their employees while traveling on company business.
