Metro provides employees with $50,000 of basic life insurance and accidental death and dismemberment (AD&D) insurance (employees age 65 and older are covered in the amount of $32,500). You may elect to purchase supplemental life insurance or dependent life insurance for additional coverage. As a disability or service pensioner, Metro provides you with $10,000 in basic life insurance coverage.
Prudential Financial Wellness Assessment
Waiver of Premium
If you are under the age of 60 and you become totally disabled according to the life insurance carrier’s standards (not Metro’s), you may apply for the waiver of premium for basic life, supplemental life and dependent life benefits and have your premiums waived as long as you continue to be disabled. You must apply within 12 months of the date you became disabled. If approved, your pre-retirement level of benefits may remain in effect until your age 70 as long as you continue to meet the life insurance carrier’s criteria.
If you qualify for the waiver of premium, this is a free benefit to you. If you are denied for the waiver of premium benefit, you have 30 days from the date of the denial to appeal the insurance company’s decision. If your appeal is denied, or you elect not to appeal the denial, you may convert to an individual policy; however, you must make written application and payment of premium within 31 days from the time the insurance company denies your waiver of premium application. To appeal or convert, you must contact the life insurance company directly.
Conversion and Portability Rights
If you leave your job, your life insurance coverage will end. To convert and/or port all or part of your life insurance benefits to an individual policy, you must apply and pay for the first premium within 31 days after your coverage ends. For more information about your conversion and portability rights, contact the life insurance carrier.
Learn about converting or porting my life insurance