You have time sensitive decisions to make. Here’s how to take action.
Yes. Rates for conversion are calculated based on your age at the time you convert your coverage. Conversion rates will remain the same for the life of the policy.
Rates for an individual policy are calculated based on a number of factors including your age and insurability when you apply, and therefore may be lower than a standard conversion.
For conversion, you generally have 31 days from when your benefits end to continue your coverage. Refer to your paperwork for specific information about your policy. You can apply at any time for an individual policy.
A financial professional is experienced and specially trained to provide personalized guidance and advice. He or she can help you navigate the application process and has access to the information and required forms you may need.
| Conversion | Individual |
| No. | Yes. |
| Conversion | Individual |
Generally, the minimum is $1,000. However this is subject to the Individual Life plan features. The maximum coverage that can be continued is generally the amount lost at the time your group coverage ends. However, that can vary based on:
|
You generally have more flexibility in your policy options. Minimums and maximums are subject to the policy chosen. |
| Conversion1 | Individual |
Convert your Group Life insurance benefits to a permanent, Individual Whole Life insurance policy based on a qualifying event* Available on all Group Life insurance coverages including Basic Life, Optional Life, Spouse Life and Child Life Conversion is not available on Accidental Death & Dismemberment (AD&D) coverage Coverage is guaranteed with no medical questions as long as its submitted within the application timeframe |
You may qualify for an individual policy at any time with evidence of insurability. Not limited to a qualifying event Policy includes a range of selections. |
*A qualifying event is a loss of group life or AD&D coverage due to termination, retirement, a scheduled decrease of coverage, a dependent spouse or child’s eligibility changed (i.e. child reached plan’s maximum age or age limit, death of employee, divorce or termination of domestic partnership), class or plan eligibility change, or the group policy ended.
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1 A non-renewable term life policy may precede a whole life conversion policy for a period of one year if your group coverage is issued in New York or West Virginia
MetLife administers the Transition Solutions program, but has arranged to have specially-trained third party financial professionals offer financial education and, upon request, provide personal guidance to employees and former employees of companies providing Transition Solutions through MetLife.
Like most group insurance policies, insurance policies offered by MetLife contain certain exclusions, exceptions, waiting periods, reductions, limitations and terms for keeping them in force. Please contact your benefits administrator or your MetLife Group Representative for costs and complete details.
