Frequently Asked Questions
What is a beneficiary? A. The person you choose to receive the life insurance proceeds should something happen to you. It’s possible to have multiple beneficiaries and you can update them regularly should your circumstances or needs change. I already have basic life insurance through my employer, why do I need more? A. 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 loved ones. Additional life insurance can give them greater financial security if you are no longer here to earn a paycheck. How much life insurance do I need? A. Everyone is different, but it may be 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 may change the coverage you need. Many people are surprised to learn that they may not have enough life insurance to cover the many expenses their loved ones may face. How much will it cost? A. It may be less expensive than you think. MetLife’s group term life insurance plans are a cost-effective way for you to provide for your loved ones with competitive group rates and a wide range of coverage options to choose from. Exact rates can be found in your enrollment materials.
How do I pay for my coverage? A. Premiums are conveniently paid through payroll deductions , so you don’t have to worry about writing a check or missing a payment.
How are claims paid? A. A claim needs to be filed with the life insurance company upon the death of the insured. A tax-free death benefit is paid in a single lump-sum to your chosen beneficiary or beneficiaries. 5
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