Group Universal Life Insurance
Life insurance pays your beneficiary in the event of your death.
It shouldn’t be expensive to protect your family’s future
WSP provides you with company paid Basic Life and Accidental Death & Dismemberment insurance, and employee-paid options through MetLife.
To compliment your PADD and VADD MetLife insurance coverage, you have access to Travel Assistance1 services, a unique program where you and covered family members (enrolled employee and their eligible dependents) can contact AXA representatives to administer emergency medical, travel and personal assistance services on your behalf wherever you are in the world.
Group Universal Life Insurance
GUL offers you the security of life insurance and the ability to contribute to the policy’s cash fund which earns interest on a tax-deferred basis.
MetLife GUL gives you all the protection of life insurance, but also includes a cash fund that can help you to meet a range of financial needs. If you take advantage of the Cash Accumulation Fund (CAF), you can contribute premiums that are above the cost of insurance and earn a competitive guaranteed rate of interest of 3%** on those additional premiums, which accrues on a tax-deferred basis. See the enclosed Understanding the GUL Cash Accumulation Fund document for additional information.
GUL coverage is available for you and your dependents as follows2:
- Employee: $20,000 to $1,500,000 in $10,000 increments
- Spouse/Domestic Partner7: $10,000 up to $250,000 in $10,000 increments
- Child(ren): $5,000, $10,000, 15,000, or $20,000
80% of people think life insurance is more expensive than it actually is.³
A 40-year non-smoker can apply for $200,000 of coverage for only $13.60 per month.
If you enroll in GUL, you and your family are entitled to the following, at no additional charge:
- Will Preparation Services4 – Provides unlimited meetings with an attorney to prepare or update a will, living will, health care proxy, and Power of Attorney.
- Estate Resolution Services4 – Gives your beneficiary legal assistance for general questions about the probate process and settling estates.
Employees will need to enroll for GUL on the MetLife MyBenefits site at metlife.com/mybenefits site. Once enrolled you may also view your coverage details and certificate on MyBenefits.
Group Universal Life Plan Details
Life has changed, but the need to protect and provide for loved ones has not.
Enroll today for Group Universal Life
For questions please call MetLife at 1-833-622-0134
Documents & Certificates
Resources
Contact Information:
For benefit information, claim submission or claim inquiries please contact MetLife’s Life Claim Center at 1-833-622-0134, Monday – Thursday 8 am – 8 pm EST and Friday 8 am – 5 pm
Life Insurance FAQs
While having life insurance provided by your employer is a great benefit, it’s possible that it may not be enough to adequately provide for your family. Additional life insurance can give your family greater financial security if you are no longer here to earn a paycheck.
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 might change the coverage you need. 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.metlifeiseasier.com to calculate how much life insurance may be right for you or scroll down and link to the Life Insurance Calculator.
It may be less expensive than you think. MetLife’s group life insurance plans are an economical way for you to provide for your family with competitive group rates and a wide range of coverage options to choose from. Exact rates can be found in the enrollment materials provided by your employer.
Premiums are conveniently paid through payroll deduction, so you don’t have to worry about writing a check or missing a payment.
- 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.
- You will have the convenience of having premiums automatically deducted from your paycheck
With portability, you can take your life insurance benefits with you without a gap in coverage. You can continue your Group Life insurance coverage with MetLife should you leave your employer for any reason. Competitive rates apply but will likely be higher than your current rates. MetLife will bill you directly2
How much Life insurance should you have?
Protect what matters most
Take control of your life insurance coverage so you’ll have the right protection in place for you and your family at all times.
1 LIMRA - http://www.limra.com/uploadedFiles/limra.com/LIMRA_Root/Posts/PR/LIAM/PDF/Infographic_TrueCost.pdf
2 To the maturity age specified in the certificate.
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.