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Optional Supplemental Life Insurance

Plan Overview

All employees who are eligible for Metro benefits automatically receive basic life insurance coverage of $50,000 as part of their core benefits. If you like, you may buy supplemental life insurance — up to three times your salary, to a maximum of $200,000 — to provide even greater financial protection for your family in the event you die. If you buy supplemental life insurance for yourself, you can also buy dependent life insurance for your spouse and/or child(ren).

FAST FACTS about Supplemental Life Insurance
Purpose	Supplements Metro's basic life coverage
Eligibility	Employees who are eligible for Metro basic life insurance
Employee Coverage	Up to 3 times salary, to a maximum of $200,000
Dependent Coverage	$10,000 for spouse and $5,000 for each child (only if you enroll in supplemental life).
When Coverage Begins	If you enroll during an Annual enrollment period, coverage will begin January 1 of the following year. If you enroll when hired, coverage begins the first day of the month beginning on or after 30 days of continuous employment.
Cost	Based on coverage amount and your age. You pay the full cost at group rates.

Eligibility

All employees who are eligible for Metro basic life insurance are eligible to apply for supplemental life insurance.

Cost

You pay the full cost of supplemental life insurance at group rates. In general, group rates are lower than rates for individual coverage. For rates, see your Enrollment Guide or contact the insurance carrier.

Supplemental Life Insurance Benefits

Upon your death, your beneficiary(ies) will be paid a lump-sum benefit in the amount of your supplemental life coverage plus your basic life coverage ($50,000).

Why is basic life insurance coverage limited to $50,000? Simply put, it’s to save you tax dollars. Basic life is a core benefit, and core benefits are part of your total compensation because Metro pays most or all of the cost of them for you. As compensation, benefits are subject to federal income tax when they exceed a certain value. The cost of basic life coverage up to $50,000 is tax-free to you, while the cost of coverage above $50,000 paid by your employer is part of your taxable income. With $50,000 of coverage in your core benefits, you get the maximum amount of tax-free basic life insurance allowed by law.