1 “Funeral Costs to Plan For” July, 2023. https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/funeral-costs-to-plan-for
2 Services and discounts are provided through a member of the Dignity Memorial® Network, a brand name used to identify a network of licensed funeral, cremation and cemetery providers that are affiliates of Service Corporation International (together with its affiliates, “SCI”), 1929 Allen Parkway, Houston, Texas. The online planning site is provided by SCI Shared Resources, LLC. SCI is not affiliated with MetLife, and the services provided by Dignity Memorial members are separate and apart from the insurance provided by MetLife. Not available in some states. Planning services, expert assistance, and bereavement travel services are available to anyone regardless of affiliation with MetLife. Discounts through Dignity Memorial’s network of funeral providers are pre-negotiated. Not available where prohibited by law. [Not approved for group policies sitused in AK, FL, KY, MT, ND, NY and WA.] If the group policy is issued in an approved state, the discount is available for services offered in any state except KY and NY, or where there is no Dignity Memorial presence (AK, MT, ND, SD, and WY). For MI and TN, the discount is available for “At Need” services only. [For coverage issued under a multiple-employer trust, services are not available for WA residents.]
3 [Included with Supplemental Life]Will Preparation is offered by MetLife Legal Plans, Inc., Cleveland, Ohio. In certain states, legal services benefits are provided through insurance coverage underwritten by Metropolitan General Insurance Company, Warwick, Rhode Island. For New York sitused or principally located cases, the Will Preparation service is an expanded offering that includes office consultations and telephone advice for certain other legal matters beyond Will Preparation. Tax Planning and preparation of Living Trusts are not covered by the Will Preparation Service.
4 MetLife administers the Transition Solutions program, and has arranged to have specially trained third party financial professionals to offer financial education. The financial professionals providing financial education are not affiliated with MetLife but are providing the program under a service provider contract.
5 All coverage amounts are subject to applicable state laws. To take advantage of this benefit, coverage of at least [$10,000][$20,000] must be elected.
6 Travel Assistance services are offered and 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.
7 Grief Counseling [and Funeral Assistance] services are available in all states but New York. Beneficiary Grief Counseling services are available in New York. Both are provided through an agreement with TELUS Health. TELUS Health is not an affiliate of MetLife, and the services TELUS Health provides are separate and apart from the insurance provided by MetLife. TELUS Health has a nationwide network of over 30,000 counselors. Counselors have master’s or doctoral degrees and are licensed professionals. The Grief Counseling program is available to insureds, their dependents and beneficiaries who have received a serious medical diagnosis or suffered a loss. This program does not provide support for issues such as: domestic issues, parenting issues, or marital/relationship issues (other than a finalized divorce). For such issues, members should inquire with their human resources department about available company resources. This program is available to insureds, their dependents and beneficiaries who have received a serious medical diagnosis or suffered a loss. Events that may result in a loss are not covered under this program unless and until such loss has occurred. Services are not available in all jurisdictions and are subject to regulatory approval. [Not available on all policy forms.]
8 [Included with Supplemental Life Insurance.] Estate Resolution Services are offered by MetLife Legal Plans, Inc., Cleveland, Ohio. In certain states, legal services benefits are provided through insurance coverage underwritten by Metropolitan General Insurance Company Warwick, Rhode Island. Certain services are not covered by Estate Resolution Services, including matters in which there is a conflict of interest between the executor and any beneficiary or heir and the estate; any disputes with the group policyholder, MetLife and/or any of its affiliates; any disputes involving statutory benefits; will contests or litigation outside probate court; appeals; court costs, filing fees, recording fees, transcripts, witness fees, expenses to a third party, judgments or fines; and frivolous or unethical matters.
9 To the maturity age specified in your certificate. In some program designs, if your plan sponsor replaces MetLife G[V]UL with another group life insurance plan or otherwise terminates the MetLife group policy, your coverage may also be terminated, even after retirement or separation from employment.] Rates will [may] increase if you leave your [employer] [firm] [for reasons other than retirement], [or are no longer eligible under the group] and choose to continue your coverage.] If you have ported or otherwise continued your coverage after retirement or separation from employment and the plan sponsor later terminates the group policy, cost of insurance rates may increase as a result of such termination.
10 Earnings within your GUL coverage grow income tax free while the policy stays in force. Please consider your time horizon, tax rates, and the effect of fees and expenses, including any premium expense charge, when evaluating the benefit of GUL tax deferral. See your Certificate for complete information.
11 Earnings within your GVUL coverage grow income tax-free while the policy stays in force. Money allocated to the variable investment portfolios is subject to market risk, and when redeemed may be worth more or less than your original investment. Please consider your investment time horizon, tax rates, and the effect of fees and expenses, including any premium expense charge, when evaluating the benefit of GVUL tax deferral. See your Prospectus and Certificate for complete information.
12 In general, participants may withdraw cash value equal to premiums paid without tax consequences. However, if the funding of the certificate exceeds certain limits, it will become a “modified endowment contract” (MEC) and become subject to “earnings first” taxation on withdrawals and loans. An additional 10% penalty for withdrawals and loans taken before age 59½ will also generally apply to MECs. We will notify you if a contribution would cause your certificate to become a MEC. Withdrawals and loans will reduce the death benefit and cash value and thereby diminish the ability of the cash value to serve as a source of funding for cost of insurance charges, which increase as you age. [Withdrawals are subject to an administrative fee of 2% of the amount withdrawn, not to exceed $25]. Outstanding loan amounts do not participate in the interest credited to the interest-bearing account and can have a permanent effect on certificate values and benefits. Upon surrender, lapse, or case termination, including those circ*mstances where termination of the group contract results in termination of individual certificates/policies, loans become withdrawals and may become taxable to the certificate owner.
13 Cost of insurance rates are determined using methodologies that vary by company. These rates can vary and will generally increase with age. Rates for active employees may be different than those available to terminated or retired employees. It’s important to look at all factors when evaluating the overall competitiveness of rates and the value of life insurance coverage.
14 Prior to the effective date, the employee will be able to opt out of auto enrolled coverage. After the effective date, the employee will be able to cancel coverage with premiums previously paid providing coverage through the cancellation date. The life autoenrollment feature is not available to residents of MN, MT and UT. [The disability autoenrollment feature is not available to residents of NH, ND and VT]. If you are a resident of any such state, you must contact your HR department to obtain an enrollment form [for the applicable product]. Your coverage will become effective according to the terms of the plan.
Nothing in these materials is intended to be advice for a particular situation or individual. Please consult with your own advisors for such advice. Like most group life insurance policies, insurance policies offered by MetLife contain certain exclusions, exceptions, waiting periods, reductions, limitations, and terms for keeping them in force. Please contact MetLife for costs and complete details. Group Term Life is issued by Metropolitan Life Insurance Company, New York, NY 10166. Policy Form GPNP99.MetLife Rapid Term Life insurance is issued by Metropolitan Tower Life Insurance Company, New York, NY 10166, policy form #8D-29-17.
