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Life insurance

Chances are you may not have enough life insurance coverage for yourself or your loved ones. Life events, such as getting married, having children and buying a home, may cause you to need more protection. Term life insurance coverage is available to eligible employees. MetLife   underwrites the life insurance coverage. This benefit is only available to active employees.

Basic Life insurance

You are automatically enrolled in Basic Life insurance at no cost if you enroll in health insurance. This policy provides $3,000 in coverage and includes a matching amount of Accidental Death and Dismemberment insurance.

Optional Life insurance

Additional coverage is available for active employees. Within 31 days of your initial eligibility, you are guaranteed coverage in $10,000 increments up to three times your salary or $500,000, whichever is less. You can also apply for more coverage, up to $500,000, with medical evidence. Your Optional Life policy includes a matching amount of Accidental Death and Dismemberment insurance. Your coverage will reduce to 65% at age 70, 42% at age 75 and 31.7% at age 80.

Your premium is determined by your age as of the previous December 31 and your coverage amount. You can also pay premiums for coverage up to $50,000 before taxes by participating in the Pretax Group Insurance Premium feature through MoneyPlus.

Dependent Life insurance

Dependent Life-Spouse

You can elect coverage in $10,000 increments up to a maximum of $100,000 or 50% of your Optional Life amount, whichever is less. Within 31 days of your initial eligibility, $20,000 of coverage is guaranteed. If you are not enrolled in Optional Life coverage, you can still choose $10,000 or $20,000 of Dependent Life-Spouse coverage. You can apply for coverage of more than $20,000 and for coverage not elected when the dependent first becomes eligible under the Plan or due to a special eligibility situation with medical evidence. The policy includes a matching amount of Accidental Death and Dismemberment insurance. Your coverage will reduce to 65% at age 70, 42% at age 75 and 31.7% at age 80.

Your premium is determined by your spouse’s age as of the previous December 31 and your coverage amount.

Dependent Life-Child

You can cover children from live birth to ages 19 or 25 if a child is a full-time student. The benefit is $15,000 per child and coverage is guaranteed. You will pay the same monthly premium regardless of the number of children covered. A child can be covered by only one parent under this Plan.

Enrollment

You can enroll in Optional Life insurance and Dependent Life-Spouse insurance during:

You can enroll in Dependent Life-Child insurance during:

MetLife Advantages

Your Optional Life insurance benefits include access to MetLife Advantages℠ — a comprehensive suite of valuable services for support, planning and protection when you need it most at no cost to you. Learn more at www.metlife.com/scpeba.  

Options at retirement

When you retire, you can continue or convert your Optional Life coverage. You have the option to continue your term life insurance, and your retiree coverage will end on January 1 following your 75th birthday. You can also convert your coverage to a whole life policy, which is a permanent form of life insurance. Learn more about your options when you retire in the Retiree group insurance chapter of the Insurance Benefits Guide.  

Quick links

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  Insurance Benefits Guide  

  Monthly premiums

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