Life Insurance
To ensure financial protection for you and your family in the event of your death, Ecker Textiles offers Basic Term Life Insurance and Accidental Death and Dismemberment (AD&D) coverage at no cost to you. This coverage is equal to one times your annual salary, up to a maximum of $200,000. If your death results from an accident, the plan provides an additional benefit equal to your life insurance amount or a percentage for specific losses, such as limbs, speech, or hearing.
You also have the option to enhance your coverage with Voluntary Term Life Insurance. This allows you to supplement the company-provided benefit by purchasing additional life insurance at group rates.
Beneficiaries
You will be required to provide your beneficiary information at the time of your enrollment. A beneficiary is a person who would receive your life insurance benefit in the event of your death.
Evidence of Insurability (EOI)
As a new hire, you are able to elect up to the Guarantee Issue of $100,000 for yourself and $25,000 for your spouse with no health questions. Should you wish to elect an amount that exceeds the Guarantee Issue, an Evidence of Insurability Form is required. You may obtain an EOI Form from the Resources page or by calling the Benefits Service Center. Most new and additional elections at Annual Open Enrollment also require an Evidence of Insurability (EOI). To apply, simply complete the form and submit it to MetLife for review. You will not be deducted for your pending amount unless / until you are approved.
Maximums and Age Reductions
Plan Maximums
Employee Coverage: Available in increments of $10,000, up to 5x your earnings to a maximum of $500,000.
Spouse Coverage: Available up to 50% of the employee's elected amount, with a minimum benefit of $5,000 and a maximum benefit of $100,000.
Child Coverage: Available in amounts of $1,000, $2,000, $4,000, $5,000, or $10,000. Coverage remains in place until the child reaches age 19, or up to age 26 if the child is enrolled as a full-time student.
Guarantee Issue Amounts
Employee: $100,000
Spouse Life: $25,000
Child Life: $10,000
Age Reductions
The employee and spouse Basic life benefits reduce by 35% of the original benefit following your 65th birthday and to 50% of original benefit following your 70th birthday.
There are no age reductions on voluntary life coverage.
Important Notes
- To elect spouse coverage, the employee must also be insured. Rates for spouse coverage are based on the employee's age.
- Beneficiary information is required upon enrollment
- Accidental Death and Dismemberment (AD&D) coverage is included
- If you are below age 60 and diagnosed with a terminal illness with a life expectancy of less than 12 months, you may collect 80% of your life insurance benefit, up to $500,000, prior to your death. See certificate for details.
Funeral Planning and Support
As a MetLife group life policyholder, you and your family have access to valuable funeral discounts, planning tools, and expert support to honor a loved one’s life—all at no additional cost.
Exclusive Benefits Through Dignity Memorial®:
- Discounts: Receive up to 10% off funeral, cremation, and cemetery services through the largest network of funeral homes and cemeteries in the U.S.
- Planning Services: Conveniently plan final arrangements online or by phone at 1-866-853-0954.
- Expert Guidance: Compassionate experts are available to help you and your family make confident decisions for future planning.
- Bereavement Travel Services: Access 24/7 travel assistance to manage time-sensitive arrangements for being with loved ones.
For more information, visit www.finalwishesplanning.com.
Employment Termination of Coverage
Your life insurance coverage plan will cease on your termination date. You will have the opportunity to convert or port your Life Insurance policy into an individual policy. To do so, you must complete a portability application within 30 days from your employment termination date.
This option allows you to maintain life insurance after your employment ends. Contact the Benefits Service Center at (866) 748-6664 for additional information regarding the portability process.
