Life Insurance
Life insurance helps protect your family's standard of living, avoids leaving debt behind and provides security for years to come.
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MetLife Group Life Insurance administers the UofL's life insurance benefit.
Basic Life Insurance
If eligible (see eligibility requirements below), you are automatically enrolled in Basic Life and Accidental Death and Dismemberment Insurance at no cost to you. The Basic Life Insurance Benefit is two times your annual salary adjusted up to the nearest $1,000 (maximum $200,000). For an additional cost, employees may purchase Supplemental Life and Dependent Life Insurance.
Eligibility Requirements
Active employee must be full-time (regular status, 80% or greater) or part-time (regular status, 40%-79%). If you elect dependent and/or spouse/qualifying adult coverage, you will be required to complete a Statement of Health.
Additional Term Life Insurance
Additional Term Life Insurance is a supplement to Basic Life Insurance for employees who would like to purchase for their self, spouse and/or child(ren). If you purchase additional Term Life Insurance for yourself, you may also purchase additional Term Life Insurance for your spouse and dependent child(ren).
Self: May purchase coverage from $20,000 to $500,000.
Spouse: Benefit options are available up to $150,000, with the minimum benefit amount as $25,000 and the maximum benefit amount as the lesser of 50% of the employee Supplemental Life Benefit or $150,000. No person may be insured as a dependent of more than one employee.
Child(ren): May purchase coverage at $10,000 for children through the end of the year in which they turn 26.
Life Insurance Options
The Supplemental Life portion of the plan provides additional protection for those who count on you financially. The need for level of coverage may vary depending on your financial situation, age, dependents, and your dependents age. Benefit options are available in various increments with the minimum benefit amount as $20,000 and the maximum benefit amount as $500,000.
If you are currently enrolled in Supplemental Life, you may increase your coverage by one level without a Statement of Health. Any additional level of coverage will require a Statement of Health.
If you are not currently enrolled in Supplemental Life, you may elect additional coverage during open enrollment. Regardless of level of coverage, a Statement of Health will be required. If you elect dependent and/or Spouse/Qualifying Adult coverage during Open Enrollment, you will be required to complete a Statement of Health. If you elect Supplemental Life requiring a Statement of Health, MetLife will mail a Statement of Health Enrollment Form to you after the close of open enrollment. If your coverage election requires a Statement of Health, coverage will not be effective until MetLife has approved.
If you are currently enrolled or newly enrolling in Supplemental Life, you may add a Spouse/Qualifying Adult for additional life insurance. Benefit options are available in level increments of $5,000 with the minimum benefit amount as $10,000 and the maximum benefit amount as the lesser of 50% of the employee Supplemental Life Benefit or a $150,000 maximum benefit. Regardless of level of coverage, a Statement of Health will be required by MetLife Group Life Insurance. No person may be insured as a Dependent of more than one employee.
For your child to be eligible for coverage, your child must:
- Be 14 days to 1 year old for $500 or
- 1 year old up to 26 years for $10,000 (over 26 years may be continued if the Dependent Child meets the Disabled Child requirements)
*Children NOT eligible for coverage:
- No person can be insured as a dependent of more than one employee
If you become terminally ill due to an injury or sickness, you or your legal representative have the option to request an ABO. For Basic Life Insurance, the ABO disbursement is up to 80% of the Basic Life amount not to exceed $160,000. For Supplemental Life Insurance, the ABO disbursement is up to 80% of the Supplemental Life amount not to exceed $240,000.
Life Insurance Rates: You pay (per $1,000)
| Age range | 12-Month Employee | 10-Month Employee |
|---|---|---|
| Less than age 25 | .053 | .064 |
| 25 – 29 | .064 | .077 |
| 30 – 34 | .085 | .102 |
| 35 – 39 | .096 | .115 |
| 40 – 44 | .106 | .127 |
| 45 – 49 | .159 | .191 |
| 50 – 54 | .245 | .294 |
| 55 – 59 | .456 | .547 |
| 60 – 64 | .701 | .841 |
| 65 – 69 | 1.348 | 1.62 |
| Over age 70 | 2.187 | 2.62 |
| Child(ren) Age 1 up to age 26. | .117 | .140 |
Calculating Life Insurance Rates
Mary (age 43) would like to add $200,000 of Additional Term Life Insurance for herself, as well as $25,000 for her husband (age 45) and $10,000 for her two children (ages 10 and 19). Remember that the costs are based on the employee’s age and are listed as per $1,000 of coverage. The cost is the same for all dependent children under the age of 26. Therefore, to calculate her cost, she would add the following:
| Employee coverage: $0.106 x 200 = $21.20 monthly |
| Spouse’s coverage: $0.106 x 25 = $2.65 monthly |
| Child(ren) coverage: $0.117 x 10 = $1.17 monthly |
$25.02 TOTAL MONTHLY DEDUCTIONS |
Need to update your beneficiaries?
There are two different steps an employee may take to update their beneficiaries, depending on the type of change needed. Follow these instructions to update beneficiaries or refer to the Workday Training Resources for more information.
Additional Services
Estate Planning & Resolution
If you are insured for Supplemental Life Insurance coverage, the following Estate Resolution Services are provided at no additional cost.
Will Preparation
If you are insured for Supplemental Life Insurance a Will Preparation Service is available to you, through a MetLife affiliate at no cost to you. It enables you to have a will prepared for you and your spouse/Qualifying Adult by attorneys designated by the Affiliate. If you have a will prepared by an attorney not designated by the Affiliate, you must pay attorney's services directly. Upon proof of payment, you will be reimbursed in an amount equal to the lesser of the amount customarily reimbursed for such services by the Affiliate.
Will Preparation Service
Willscenter.com
Probate Services
If you are insured for Supplemental Life Insurance and die while coverage is in effect, a probate benefit will be available to your estate, through a MetLife affiliate. Certain probate services are available, fee of no charge by attorneys designated by the Affiliate. If probate services are provided by an attorney not designated by the Affiliate, your estate must pay attorney services directly. Upon proof of payment, your estate will be reimbursed in an amount equal to the lesser of the amount customarily reimbursed for such services by the Affiliate.
Telus Health Grief Counseling through MetLife
To help you, your dependents, and your beneficiaries cope with loss
You, your dependents and your beneficiaries have access to grief counseling sessions and funeral related concierge services through Telus Health to help cope with a loss. Grief counseling services provide confidential and professional support during a difficult time to help address personal and funeral planning needs. At your time of need, you and your dependents have 24/7 access to a work/life counselor. You simply call a dedicated 24/7 toll-free number to speak with a licensed professional experienced in helping individuals who have suffered a loss. Sessions can either take place in-person or by phone. You can have up to five face-to-face grief counseling sessions per event to discuss any situation you perceive as a major loss, including but not limited to death, bankruptcy, divorce, terminal illness or losing a pet. In addition, you have access to funeral assistance for locating funeral homes and cemetery options, obtaining funeral cost estimates and comparisons and more. You can access these services by calling 1-888-319-7819 or log on to www.metlifegc.lifeworks.com (Username: metlife assist; Password: support).
Empathy Employee Slipsheet*
Empathy Beneficiary Claim Kit Flyer*
*Empathy is not an affiliate of MetLife, and the services Empathy provides are separate and apart from the insurance provided by MetLife. This program is available to beneficiaries, and insureds who are terminally ill and eligible to accelerate life proceeds under MetLife's Accelerated Benefit Option. Not available on all policy forms or in all jurisdictions.”
Funeral Planning
Ensuring your final wishes are honored
As a MetLife group life policyholder, you and your family may have access to funeral discounts, planning and support to help honor a loved one’s life – at no additional cost to you. Dignity Memorial provides you and your loved ones access to discounts of up to 10% off of funeral, cremation and cemetery services through the largest network of funeral homes and cemeteries in the United States.
When using a Dignity Memorial Network you have access to convenient planning services – either online at www.finalwishesplanning.com, by phone (1-866-853-0954), or by paper – to help make final wishes easier to manage. You also have access to assistance from compassionate funeral planning experts to help guide you.
Download this helpful Funeral Planning Guide.
Additional Resources
Life Insurance Definitions & FAQ
Review a few most frequently asked questions, below.
What is the definition of a "child" in reference to Life Insurance?
Your natural child, adopted child (including a child from the date of placement with the adopting parents until the legal adoption), stepchild who resides with and is fully supported by you; or a child for whom you have a court order to provide coverage who resides with and is supported by you; and who, in each case, is: at least 14 days old, under age 26, unmarried and supported by you.
How do I update my beneficiaries in Workday?
- To change beneficiaries assigned to specific benefits plans, and the allocation percentage, please reference the Change Benefits for a Life Event quick reference guide (QRG).
- To change beneficiaries outside of a benefit change event, to change details such as contact information or relationship type, please reference the Update Beneficiary Information quick reference guide (QRG).
How long can a child with disabilities be covered under a life insurance plan?
Insurance for a Dependent Child may be continued past the age limit if the child is incapable of self-sustaining employment because of a mental or physical disability as defined by applicable law. Proof of such disability must be sent to us within 31 days after the date the Child attains the age limit and at reasonable intervals after such date.
How will life insurance be paid to beneficiaries?
Unless the Beneficiary requests payment by check, when the Certificate states that life insurance will pay benefits in “one sum”, “lump sum”, or a “single sum…” For more information, read MetLife’s certificate rider.
Taxable Income
Current federal tax law permits employees to exclude from taxable gross income the University's cost of providing the first $50,000 of group-term life insurance coverage. However, the value of university-provided group life insurance in excess of $50,000 is treated as taxable (imputed) income. The taxable cost of this group term life insurance is computed on the basis of uniform premium rates determined by the Internal Revenue Service based on the employee's age.
Travel Assistance
MetLife selected AXA Assistance USA, Inc. to be the administrator for Travel Assistance services. This service helps intervene in medical emergencies in foreign countries. In addition, AXA administers assistance services when a covered employee or dependent becomes ill or injured while traveling 100 miles or more away from home.
Travel Assistance Services