Overview
You may purchase Optional Life/AD&D insurance coverage for yourself to supplement the Basic Life/AD&D insurance provided by the company.
You may elect Optional Life coverage in multiples of your annual base pay (from one to ten times) rounded to the next highest $1,000 up to a maximum of $5,000,000. Your annual base pay does not include overtime, bonuses, commissions or other extra pay.
Under the Optional Life plan, you also receive Optional AD&D insurance coverage. Optional AD&D insurance provides additional benefits to your beneficiaries if your death is the result of an accident. The Optional AD&D insurance will also pay you benefits if you are seriously injured/dismembered as a result of an accident. Your Optional AD&D coverage amount is equal to your Optional Life coverage amount.
The insurance carrier for your Optional Life/AD&D coverage is the Metropolitan Life Insurance Company.
Additional Details
Comprehensive information about this benefit plan is contained within the Life and AD&D Benefit Plan Summary (PDF). In addition, below is some important information about the plan:
Medical Evidence of Insurability
When you are first eligible to purchase Optional Life Insurance, if you elect more than four times your annual base pay or $2,600,000 in coverage, you will be required to provide medical evidence of insurability (EOI) to MetLife. If your application is not approved, your coverage will be limited to the lesser of four times your annual base pay or $2,600,000.
After your initial eligibility date, you will be required to provide medical EOI if you previously waived coverage or if you are electing to increase coverage during annual benefits enrollment or during a qualified status change.
After you make your election, MetLife will send you an email with a link to the MetLife Web site so that you can complete the EOI form. You may complete the EOI form online and submit it electronically. Coverage will become effective the first of the month following the date MetLife approves your EOI form. If an EOI form is not approved, the amount of insurance you had in effect prior to applying for the increased coverage will continue.
Nonsmoker discount
You may be eligible for a nonsmoker discount under the Optional Life/AD&D plan. To be eligible, you must not have used tobacco products during the previous 6 months and you must not intend to use tobacco products in the future. Tobacco products under the plan are defined as cigarettes, cigars, pipes, chewing tobacco and snuff.
Beneficiary
Your Optional Life/AD&D Insurance beneficiary is the same as the beneficiary that you name for the Basic Life/AD&D plan.
For instructions on designating your beneficiary online, go to the Designate a Beneficiary page.
Eligibility
You are eligible to participate if you are a regular status, salaried employee of Travelers scheduled to work at least 20 hours a week.
For questions concerning Optional Life/AD&D Insurance coverage at retirement, contact the ESU at 4-ESU@travelers.com or 800.441.4378.
Cost
Premiums for Optional Life/AD&D are based on the amount of coverage you elect, your current age and your smoker status. Premiums may change during the year when your salary and/or age changes. Premiums are deducted from your paycheck on an after-tax basis.
Calculate Your Rates
Related Programs & Resources
For questions concerning plan details, eligibility, cost and when coverage begins or ends, refer to the Life and AD&D Benefit Plan Summary (PDF), the MetLife Certificate (PDF) or contact the ESU at 4-ESU@travelers.com or 800.441.4378.
How to Enroll
Access the How to Enroll page for enrollment instructions.
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