Everyone needs life insurance.
Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.

You've recently graduated from college.
You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.

You're the parent of small children.
You want to make sure they'll be able to keep the same lifestyle and attend college—even if you're not there to see it happen.

Your grown children are on their own.
But your children may rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.

Your spouse may be depending on your income for retirement.
But you're not sure your retirement savings is enough to keep up with a rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.

Like many families, you rely on two incomes to make ends meet.
You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.

 

You want to be sure your children can protect their futures, too.
Most children's life insurance coverage contains an innovative feature that allows them to convert their term life protection to a permanent life insurance plan at a higher premium when they become adults. This ensures that your children can protect their own families—no matter what health problems they may develop.

With 150 years of experience, MetLife is a leading innovator and a recognized leader in protection planning and retirement & savings solutions.

You can enroll if you:

• Are a regular active employee of FLSmidth working at least 30 hours per week.
• Are actively at work on both the date the enrollment form is signed and the effective date of coverage.
• Meet the eligibility requirements on the enrollment form.
• Are a U.S. citizen or U.S. permanent resident on U.S. payroll.

You can also enroll these family members:

• Your spouse
• Your eligible dependent children or those of your spouse

You can enroll anytime!

At certain times you may be allowed to enroll in the Group Universal Life plan by not completing as many questions. These times include:

• Within 31 days of your initial eligibility date.
• During special enrollment periods as offered by your employer and the insurance provider.
• Within 31 days of marriage.
• Within 45 days of the birth of your newborn child.
• Within 31 days of the adoption of your child

If you do not apply for yourself and your eligible family members during your initial eligibility date or during a special enrollment period, you will be required to answer a more comprehensive health questionnaire and be approved by the insurance company before coverage can begin.

 

If you apply when first eligible:

• You can enroll in coverage up to 2 times your base pay, not to exceed $400,000.
• You can apply for up to $10,000 for your spouse.
• You can apply for up to $10,000 for each of your eligible children, without providing evidence of good health.

To help you get an idea of how much coverage you may need, try MetLife’s Life Insurance Calculator.

Employee and Spouse Coverage

Monthly cost of insurance per $10,000 coverage unit

Age	Rate
Under 30	$0.74
30-34	0.84
35-39	1.16
40-44	1.79
45-49	2.52
50-54	4.31
55-59	7.14
60-64	10.19
65-69	19.74
70 and over	Available upon request

 

Child Coverage

Coverage Amount	Monthly Cost
$5,000	$1.00
$10,000	$2.00

When you leave or retire from your current employer, you can continue your coverage without interruption as long as the group policy is in effect, subject to applicable law and the policies' terms and conditions. Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply.

Perhaps the best advantage of Group Universal Life Insurance is the availability of a special interest-bearing, tax deferred account. Accumulated cash value, if any, can be withdrawn tax-free up to an amount equal to your cost basis. Tax-favored loans and withdrawals may be available.1 You can access the money whenever you want and for whatever you want. You can also take a loan against the value in your cash fund and continue to earn interest on the borrowed amount. Minimum withdrawal amount is $200.

 

1In general, participants may withdraw cash value equal to premiums paid without tax consequences although less favorable rules may apply in the first 15 years. However, if the funding of the certificate exceeds certain limits, it will become a “modified endowment contract’ (MEC) and become subject to “earnings first” taxation on withdrawals and loans. An additional 10% penalty for withdrawals and loans taken before age 59½ will also generally apply. We will notify you if a contribution would cause your certificate to become a MEC. Withdrawals and loans reduce the death benefit and cash value, thereby diminishing the ability of the cash value to serve as a source of funding for cost of insurance charges, which increase as you age.

In addition to the advantages of this plan over other life insurance options, this plan offers even more special benefits:

• Accelerated Benefit Rider:
  • An advance payment of your life insurance benefits is available if you are diagnosed with a terminal illness with a life expectancy of 12 months or less (may vary by state).
  • You can request payment up to 80% of your coverage amount, up to a maximum of $500,000.
  • Advance payment permanently reduces the death benefit.
  • This benefit is available to you and your covered spouse.
• MetLife AdvantagesSM
  MetLife Advantages is a comprehensive suite of meaningful services and benefits available at no cost to participants of the GUL program. Click on the links below to learn more about each of these valuable services.
  • Estate Resolutions Services
  • Estate Resolutions Services Frequently Asked Questions
  • SpecialCare Program
  • Will Preparation Services
  • Will Preparation Services Frequently Asked Questions
  • Delivering the Promise
  • Dignity Memorial Funeral Discount and Planning Services
  • Grief Counseling
• Children's Portability Privilege: When your child is no longer an eligible dependent, he or she can apply for an increase in coverage up to 5 times the amount of the children's rider not to exceed $50,000, as long as the group policy is still in effect. The child will be issued a Group Universal Life certificate and will be eligible to contribute to a cash fund. The request for coverage must be made by writing to Mercer Voluntary Benefits within 90 days of the date the child is no longer an eligible dependent.
  
  A Children’s Portability Privilege is not available for a disabled child. Children's coverage may be continued for a disabled child as a rider to the existing adult Group Universal Life certificate. The dependent rider may remain in effect as long as the employee or spouse maintains coverage. Please contact Mercer Voluntary Benefits to request continued coverage for a disabled child.

If evidence of good health is required...
Coverage is effective on the first of the month after coverage is approved by MetLife.

If evidence of good health is not required...
Coverage is effective the first day of the month in which your first payroll deduction begins. If you enroll during a special enrollment period, coverage begins when stated in the offer.