Group Term Life Insurance
Scott & White offers a range of life insurance coverage options designed to fit your needs underwritten by MetLife. MetLife is the number one issuer of group life insurance with over 22 million covered employee lives (Employer Benefits Review, July 2003. Based on total life insurance in force as of 12/31/02.) MetLife provides great benefits at competitive rates for both you and your employees.
MetLife Group Life Options Available
- MetLife Basic Term Life - Offers quality protection at competitive rates for a flat coverage amount. Employers can provide employee either $25,000 or $50,000 in-group life term coverage. What's available with MetLife Basic Term Life
- Accelerated Benefits Option (ABO) for employees and dependents who become terminally ill. Benefits are payable if an employee requests payment of the ABO while his/her life benefits are in effect, and his/her life expectancy is certified by a physicians to be six months or less. The amount of ABO is up to 50% of the covered amount but cannot exceed more than $250,000.
- Accidental Death & Dismemberment (AD&D) coverage available for employees and dependents at group rates.
- Continued Death Benefits in the event of Total Disability.
- Conversion Privilege.
- Dependent Life options for Spouse and Dependent Children at group rates.
- MetLife Core Buy-Up Life - Offers affordable option for enhancing the company's benefits program without adding to their costs. With Core Buy-Up the employer provides a "Core" amount of life insurance for each employee ($25,000 or $50,000) and then the employees have the opportunity to "Buy-Up" - choosing additional coverage for themselves, their spouse and dependent children. This product is available to employers with 10 to more employees. What's available with MetLife Core Buy-Up Life
- Since all employees are provided with "Core" coverage, there are no minimum participation requirements.
- Employee "Buy-Up" coverage is portable.
- Buy -Up options for spouse and dependent children are available (cannot exceed 50% of employees policy).
- Rates are according to group age bands.
- Employees have the option to buy-up coverage by one $10,000 increment at policy anniversary, with up to $100,000, without any medical questioned asked.
- Accelerated Benefits Options for employees and dependents who become ill are available.
- Travel assistance services are available, including emergency medical travel assistance services, included with Buy-Up Accidental Death & Dismemberment (AD&D) [Travel assistance services are provided by AXA Assistance USA, Inc. and are not insurance and are not part of the group insurance provided].
Like most life insurance policies, MetLife group life insurance policies contain certain exceptions, waiting periods, reductions, limitations and terms for keeping them in force. For costs and complete details of coverage, call or write your MetLife Representative.
For more information on the above plans or to discuss your employees individual needs, please contact us at a regional Scott & White Health Plan office near you and ask for Group Sales Representative or request additional information online.
Metropolitan Life Insurance Company, New York, NY 10010 L04057WR0(exp0505)MLIC-LD
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