Optional Employee Life Insurance
Your employer-sponsored basic life coverage
provides important protection for you, but you may need to add to that
protection. Now you can... at low group rates and through payroll deductions.
To help meet this need, you now have the
opportunity to elect additional group life insurance under the optional portion
of your program to go along with any personal insurance coverage you may have.
Schedule of
Benefits
Your choice of the following
amounts:
$250,000/$200,000/$150,000/$100,000/$50,000/$40,000/$30,000/$20,000/$10,000
To be eligible for Employee
coverage over $50,000 you must furnish medical evidence of insurability
satisfactory to MetLife.
Optional Dependent Life Insurance
Provides coverage on:
Your Spouse
Child(ren) from 14 days of age to age 19
(to age 25 if wholly dependent upon you for maintenance and support
and if enrolled as a full-time student in an accredited school or
college). Handicapped children can continue to be covered with no
age limit.
Schedule of
Benefits
$10,000/ $20,000/$30,000/$40,000/$50,00
on your spouse To be eligible for $20,000 coverage and above, your spouse must furnish
medical evidence of insurability and you must elect a minimum of $20,000 and
above of Employee Optional Life Insurance.
Optional Spouse coverage
automatically ends once the spouse has reached the age of 70. It may end sooner
if the employee has: retired, died, or the Spouse ceases to be a dependent of
the Employee.
$5,000/$10,000/$15,000,$20,000/$25,000 on each of your eligible children To be eligible for $10,000 coverage and above on your child(ren), you must
furnish medical evidence of insurability.
Features
The plan features easy eligibility and simple
enrollment procedures. There is no need for a medical exam if you sign up during the
enrollment period.
Furthermore, automatic payroll deductions simplify paperwork. This means less
bookkeeping for you and no worries about a lapse in coverage due to missed
payments.
Low Cost
Your cost is lower than for comparable insurance
on an individual basis due to the "wholesale" economies inherent in
group insurance. Additionally, the system absorbs the cost of administering the
program which is underwritten by MetLife - a leader in the field of group
coverage.
Eligibility
You will be eligible for this
program if you are a full-time active employee working at least 30 hours.
Enrollment
Enrollment is simple - just fill out the election
card provided by your employer. Make sure you supply all the required
information and return the form where you work. That's all. You will be notified
as to when coverage starts.
STATEMENT OF HEALTH
Increases in coverage, a re-entry in the plan, amounts over the guaranteed
issue limits, and participants who enroll 31 days beyond the eligibility period
will be required to provide evidence of insurability satisfactory to MetLife.
BENEFICIARY You have the right to designate the beneficiary of your choice under
employee coverage. You are automatically
the beneficiary under Dependent Life.
WHEN YOUR INSURANCE STARTS Your Basic Employee Life Insurance becomes effective on the date of your
eligibility if you are then actively at work; otherwise, on the day you return
to active work.
If you have elected Optional Employee Life Insurance or Optional Dependent Life
insurance you will be notified as to when that coverage begins.
Anyone electing not to enroll when first eligible or within three months
thereafter can enroll later only if evidence of insurability satisfactory to
MetLife is provided.
Reductions at age 70 and over
If you remain in active service beyond age 70
your combined amount of Basic and Optional Employee Life Insurance will be as
follows:
Attained Age
Percent of
Original Amount
70
65%
75
45%
80
30%
Termination of Coverage
All insurance under this plan
will terminate with the earliest of the following events. The events include:
termination upon retirement, termination of employment, plan cessation or
withdrawal from the plan. Nevertheless, if you should die within 31 days
thereafter, your life insurance will still be paid to the beneficiary. If any of
your covered dependents should die within such 31 day period, the amount of Life
Insurance on account of such dependent will be paid to you.
Disability
Your insurance may be continued
during your disability provided the Board of Education continues premium
payments on your behalf. However, your insurance will be subject to reduction as
shown under " Reductions at ages 70 & Over."
Conversion
If your employment terminates while you are covered under the plan, you
may purchase without medical evidence of insurability, any individual insurance
policy, except a term policy, issued by MetLife in any amount up to the amount
of your coverage in effect on your date of termination. You must apply for this
policy within 31 days after the date your employment terminates. This privilege
applies to Optional Employee Life Insurance and Dependent Life Insurance as well
as the Basic Employee Life Insurance.
SUICIDE EXCLUSION
No Optional Employee or Optional Dependent Life Benefits are payable if you
commit suicide within two years from the effective date of the coverage.
THE ACCELERATED BENEFIT OPTION (ABO) MetLife has included an Accelerated Benefit Option (ABO) as part of your group
life benefits. Under this option, if you are diagnosed as having a terminal
illness, you may be eligible to receive a portion of your group life benefits at
such a difficult time. Please refer to your Group Certificate for details.
PORTABILITY
Portability allows employees whose coverage ends due to certain qualifying
events to continue their current (or a lesser) amount of insurance. Portability
applies to Employee Optional Life Insurance only.
QUALIFYING EVENTS INCLUDE:
Termination of Employment
Retirement
Change in employee class which
results in the
termination of Optional Life Benefits.
The minimum face amount which an employee may elect portability is $20,000.
When portable coverage ends, insured individuals have the right to convert
to an individual policy. The Accelerated Benefit Option (ABO)
GROUP POLICY
The insurance briefly described in this folder is subject to the terms and
conditions of the Group Policy issued by the Metropolitan Life Insurance
Company. If you become insured, you will receive a certificate outlining your
benefits under the policy. This information has been prepared to give you
the highlights of additional coverage now being offered by your School Board to
meet your insurance needs. For details please ask your personnel office or refer
to the certificate of insurance that you will receive after you have signed up
for protection.
PLAN SPONSOR
Unicoi County Schools
600 N. Elm Avenue
Erwin, TN 37650
(423) 743-1606
For disputes arising under the plan, service of legal process may be made on the
plan sponsor. For disputes arising under the insurance contract, service of
legal process may be made upon MetLife at one of its local offices, or upon the
supervisory official of the Insurance Department in the state in which you
reside.
CLAIMS PROCEDURE Claim forms needed to file for benefits under the group insurance program
can be obtained from your employer who will also be ready to answer questions
about the insurance benefits and to assist in filing claims. The instructions on
the claim form should be followed carefully. This will expedite the processing
of the claim. Be sure all questions are answered fully. If there is any question
about a claim payment, an explanation can be requested from your employer, who
is usually able to provide the necessary information.
This has been prepared to give you the highlights of coverage now being offered
by your School Board to meet your insurance needs. For details please ask your
personnel office or refer to the certificate of insurance that you will receive
after you have signed up for protection.
