Proprietary 8-23 LIFE AND AD&D INSURANCE PLANS These plans provide life insurance and accidental death and dismemberment (AD&D) insurance for you and your family. Life and AD&D insurance is underwritten by MetLife. If you elect coverage, you must participate in the plan until the end of the plan year, unless you experience a qualified status change. The amount of life and accidental death and dismemberment (AD&D) insurance you may buy depends on your position. You can enroll yourself and your dependents in the Life and voluntary AD&D plans within 31 days of your initial eligibility. If agents and district managers don’t enroll within 31 days of your initial eligibility date, you’ll need to complete an Evidence of Insurability form and it is subject to approval by the insurance carrier. 3 life and AD&D When you buy life insurance, you are automatically covered by an equal amount of AD&D insurance. Voluntary AD&D Insurance Classification Amounts Agents, District Managers and Staff Members of Agents and District Managers n $50,000 up to $300,000 maximum in increments of $50,000 Eligible Dependents of Agents, District Managers and Staff Members of Agents and District Managers Family AD&D insurance: n Equal to your coverage for your spouse n 10% of your coverage to a maximum of $30,000 for each child The terms of your benefit plans are governed by legal documents. Please refer to your MetLife SPD for more details and plan limitations. Note: All life insurance coverage ends for spouse/domestic partner at the end of the year of 70th birthday. All life insurance coverage ends for child(ren) at the end of the month of 26th birthday. Basic Group Life and AD&D Insurance Classification Amounts Agents and District Managers First Year Options: (flat amounts): n $50,000 n $100,000 n $150,000 n $200,000 n $250,000 1-Yr Anniversary Options: n $50,000 increments up to $1,200,000, not to exceed eight times annual commissions. The maximum benefit is the lesser of $1,200,000 or eight times annual commissions. AD&D: Equal to life insurance coverage Eligible Dependents of Agents and District Managers and Eligible Dependents of Staff Members of Agents and District Managers Spouse/Domestic Partner: n $12,500 n $25,000 n $50,000 n $100,000 Child: n $10,000 AD&D: Equal to life insurance coverage Staff Members of Agents and District Managers $25,000 up to $250,000 maximum in increments of $25,000 Certain age restrictions apply to staff members AD&D: Equal to life insurance coverage See Evidence of Insurability rules under the “Basic Life and AD&D Insurance Plan” heading.
RkJQdWJsaXNoZXIy NzQzMzY=