Retiree Life Insurance
Retiree Life Insurance pays your beneficiary in the event of your death.
Life has changed, the need to protect your family hasn't
You can get cost-effective life insurance coverage to protect those you care about most and the life you’re building for them today.
You can easily protect your family’s future, today
We know how important it is to protect the health and safety of loved ones. It's why you worked hard, continued to save what you could and tried your best to plan for what's next. Looking after those you care for should not be a financial burden. Now you can help ensure that future by providing your loved ones with the financial protection only Retiree Life Insurance offers. This way, you’ll know that the life you worked hard to build for your family will still move forward, no matter what happens.
- Provides your family with valuable financial protection
- Pays a monetary benefit to your beneficiary in the event of your death
- Money can be used for a wide variety of purposes: final expenses, income replacement, paying off mortgage and other debts, childcare and/education costs, and other short- and long-term expenses
80% of people think Retiree Life Insurance is more expensive than it actually is.1
Plan Details
Life has changed, but the need to protect and provide for loved ones has not.
METLIFE ADVANTAGES
Services to help navigate what life may bring, at no additional cost to you.
MyBenefits
The MyBenefits website is a quick and easy way for you
to designate your beneficiary.
Retiree Life Insurance FAQs
Everyone is different, but you may need more than you have now. The insurance you need changes as your life changes (for example: getting married, starting a family or buying a home). Many people are surprised to learn that they don’t have enough life insurance to cover the many expenses their loved ones may face.
It’s simple to determine the amount of coverage you need now:
Go to www.metlife.com/lifeneeds to calculate how much life insurance may be right for you.
The cost for the first $5,000 of Retiree coverage is $1.67 per month. If you choose additional coverage level, rates are based upon you age and amount of coverage elected. The table below shows the monthly rate per $1,000 of coverage. This is applicable to both Retiree coverage and Spouse coverage.
Age Band |
Monthly Rate per $1,000 of Coverage |
Less than 60 |
$0.437 |
60-64 |
$0.581 |
65-69 |
$0.960 |
70-74 |
$1.455 |
75-79 |
$2.248 |
80-84 |
$3.542 |
85-89 |
$5.635 |
90+ |
$9.131 |
Premium must be remitted through ACH (Automated Clearing House) which is an electronic money transfer from your bank account. During your enrollment process for retiree coverage, you will have an opportunity to set up your ACH.
- You get competitive group rates and a wide range of coverage options to choose from.
- Proceeds are generally income tax free and can be paid to your beneficiary in a lump-sum payment.