# Presentation: 467728

## Understanding Your OptionsLife Insurance Educational Session for Employees of NASA

## Life Insurance is Important

**Life Insurance is an important part of your overall financial plan.  It can help to:**** **
-   Pay outstanding debt
-   Pay for funeral expenses
-   Protect your family’s financial security

*The amount you need is based on your individual circumstances.*

**Notes:**
Introduce yourself to the group. Mention that you’re there to discuss a very important but often overlooked element of their benefits plan:  life insurance.

Your employer recognizes how important life insurance is in your overall benefits plan and has arranged for you to obtain the amount of life insurance that meets your needs through MetLife. The amount you need is a personal decision that is based on your individual situation.  For example, do you want to be able to pay outstanding debt?  Do you want to have funds available to pay for funeral expenses?  Do you want to protect your family’s financial security? 

You may wish to use this opportunity to re-evaluate your life insurance needs and consider your new options through NEBA - especially if your life has changed since your last insurance election.   If you have experienced more milestones - children, a larger home, caring for an aging parent - you should consider updating your life insurance accordingly.  It's a good idea to periodically make sure that you have enough coverage to help protect the people that you care about. 

## Understanding a crucial part of your benefits plan from MetLife®

**Basic Life Insurance Coverage with **
**Accidental Death & Dismemberment**
**and Dependent Life Insurance Coverage**
** ****for Employees of NASA**

**Notes:**
NASA has chosen MetLife—the most focused carrier and leader in Group Life insurance*—to provide you with new life insurance options that can help protect you and your family.  

Today, you’ll have the opportunity to learn more about these new options from MetLife - Basic Life Insurance and Accidental Death and Dismemberment and Dependent Life Insurance.  This insurance offers you an opportunity to obtain the coverage that is right for your unique needs in a convenient and economical way.

Before you make this important decision, we will review the details about your coverage, how to determine the coverage amount that is right for you and your family, and the special features that make this plan valuable to you today.  

## Life Insurance Provided by MetLife®

**Basic Life**
**1 times your base annual salary up to $100,000**
**Accidental Death & Dismemberment**
**2 times your base annual salary up to $200,000**
**Automatic when you elect Basic Life**
**Spouse/Child Dependent Life**
**Spouse: $10,000, $15,000, $20,000, $25,000 and $50,000 (Coverage can not exceed 50% of employee benefit)**
**Child: $10,000**

**Notes:**
As you can see, under the new plan, you can now elect Basic Life insurance coverage in the amount of 1 times your base annual salary up to $100,000. You pay a group rate that’s based on your age and the coverage amount you select. And you can pay for your coverage conveniently, through payroll deduction. 

You can also protect yourself and your family from the financial impact of accidental death or serious injury with Accidental Death and Dismemberment (AD&D) Insurance.  When you elect Basic Life coverage, you will automatically receive AD&D insurance coverage in the amount of 2 times your base annual salary up to $200,000.  

You also have the option of electing Dependent Life coverage for your spouse and child(ren). While no life insurance can replace the loss of a loved one, it can help mitigate the financial impact on those who are left behind. The loss of a spouse’s income can be devastating to the financial well-being of a household. Even if the spouse did not work, he or she might have provided childcare and other domestic services that will now have to be paid for.  You may elect coverage for your spouse in an amount of $10,000, $15,000, $20,000, $25,000 or $50,000.  Spouse coverage can not exceed 50% of the employee life coverage.

This program also allows for Dependent child coverage in the form of a term life rider for $500 for children 15 days to 6 months and $10,000 for children 6 months to 19 years old.  One single rate covers all eligible children in your family.   

## How much coverage is right for you?

**How much Life Insurance you need is a personal ****decision based on your individual circumstances. **
-  The ***Life Insurance Calculator*** @ **www.metlife.com/mybenefits**

*This tool will help provide answers you need to make an informed life insurance decision.**** ***

**Notes:**
Now that we’ve looked at why life insurance is important, you may be saying to yourself “How do I know what coverage amount may be adequate for my and my family’s needs?” 
To help you, MetLife has created life insurance needs assessment tools:  The Life Insurance Calculator is an online tool available at www.metlife.com/mybenefits.
 This tool will help you decide how much life insurance is adequate financial protection for your family. The online calculator will help calculate your appropriate life insurance in a few minutes. All you need to do is answer questions about:
 Planning Expenses, such as college tuition, and wedding expenses
 Outstanding Debt, such as mortgage, credit card, and car loans
 Assets and Savings, such as home equity and spouse’s annual household income

Almost instantly the life insurance calculator will formulate the amount of life insurance that will provide adequate financial protection for your family. 

## Important Information For Current NEBA Participants

**Employees currently enrolled in NEBA have an opportunity to maintain their existing level of coverage**
-  Existing coverage will be rounded to next available plan options   without the need to provide evidence of good health.
- For example, an employee with a base annual salary of $60,000 and existing life insurance coverage equal to $50,000, new coverage would be $60,000 (equal to 1x base annual salary)
- Coverage may consist of Basic Term Life and Paragon GVUL
- For example, an employee with a base annual salary of $60,000 and existing life insurance coverage equal to $100,000, new coverage would consist of $60,000 Basic Term and $60,000 Paragon GVUL.
- You need to actively enroll to ensure your rate is based on your current smoker/non-smoker status and to allow for the adjustment in your coverage to the next available plan option without the need to provide evidence of insurability.

**Notes:**
Effective May 1, 2005, your Basic Life insurance will be term life coverage provided by MetLife. Your existing coverage will be rounded up to the next available plan option without the need to provide proof of good health. Here’s a quick example of how this works, an employee with a base annual salary of $60,000 and who had existing life insurance coverage equal to $50,000 would now have coverage equal to $60,000 which is1x their base annual salary. 
If your existing coverage exceeds the amount available under the new Basic Life plan, your new coverage may consist of Basic Life Term and Paragon GVUL, which you will be hearing more about shortly.  Here’s an example showing how this works: an employee with a base annual salary of $60,000 and who has existing life insurance coverage equal to $100,000, this employee’s new coverage would consist of $60,000 Basic Term and $60,000 (1x base annual salary) and $60,000 of Paragon GVUL (coverage would be increased to the next available 1/2 multiple of base annual salary).
Please note, to ensure your rate is based on your smoker/non-smoker status, you need to enroll. If you do not actively enroll and you have no optional coverage under the prior plan, any coverage amount that rolls into the Paragon GVUL will be assessed a smoker rate due to the fact that your smoker/non-smoker status would not have been provided by the prior carrier. In addition, your benefit would not be changed to the next available coverage amount available under the new program. So using the example above, if this employee does not complete an enrollment form, this employee would have $60,000 in Basic Term coverage and $40,000 of Paragon GVUL and would be charged a smoker rate. In addition, this employee would not have the opportunity to get the additional $20,000 in coverage without the need to provide medical evidence of insurability.
Those who are not current participants can still take advantage of these coverage options, but will be required to provide medical evidence of insurability.

## MetLife Group Life:  Value today and tomorrow

**Affordable Group Rates **
**Convenient Payroll Deduction**
**Will Preparation**
**Coverage You Can take With You—Portability**
**Accelerated Benefits Option**
**TravelAssistance**

**Notes:**
Say:  Life Insurance is mostly thought of as a benefit that will be utilized only if I pass on.  MetLife has added Living Benefits that you and your family may utilize now.  Some of the benefits that are available to you at no additional  cost as part of your coverage include: 
Note to Speaker:  Whatever services are offered, they are at no additional cost to the employee.
 Affordable group rates and convenient payroll deduction. 
 Will Preparation  - This service is a special bonus with your coverage and provides services that include preparing and updating your or your spouse’s will. Telephonic and office consultations are also available.  And this service fully covers legal fees with these services when using a participating attorney. The Will Preparation Service is available by Hyatt Legal Plan, Inc., Cleveland, OH.  In certain states, legal services are provided through insurance coverage underwritten by Metropolitan Property and Casualty Insurance Company and Affiliates, Warwick, RI. Availability of Will Preparation is subject to regulatory approval.  
 Your coverage is Portable -- you can take it with you wherever you go -- you don’t have to give up your group coverage and risk losing your life insurance protection should you leave the company.  It’s yours to keep without medical evidence of insurability at affordable portable rates. Portability is subject to state availability and approval. 
 Accelerated Benefits Option (ABO) means should the employee or spouse become terminally ill and diagnosed with less than 6 months to live, you can choose to receive up to 50% of the life insurance proceeds while living, subject to a maximum of $250,000. 
 Disability Provision - Continued Protection - should you become unable to work for 9 consecutive months due to being totally disabled, MetLife will waive your premium and you will continue to be covered until the day before their 65th birthday.] Additionally, your AD&D coverage provides you with this useful feature:
 TravelAssistance -  This travel assistance service, provided by AXA Assistance USA, Inc. covers you and your dependents for medical, pre-travel, legal and financial assistance services 24 hours a day, 365 days a year, while traveling internationally or domestically, more than 100 miles from home. You will have access to more than 600,000 pre-qualified providers in more than 238 countries. TravelAssistance is available to you as a result of your [participation in the  [Personal/Optional/Voluntary] AD&D plan. The travel assistance services are provided by AXA Assistance USA, Inc. which is solely responsible for the services.  AXA Assistance USA, Inc. is not affiliated with MetLife and the services provided are not part of the insurance coverage provided by MetLife.

## IMPORTANT:The Enrollment Deadline is April 8, 2005

**Now, you are ready to enroll:**
**  ****Log on to www.metlife.com/mybenefits to use the life insurance****   calculator and to enroll.**
**  ****For future/additional questions:  **
**Call an Enrollment Specialist at 1-800-846-0124**
**Ask questions.  We are here to help!**

- Like most Group Life policies, MetLife Group Life policies contain certain exclusions, limitations, and terms for keeping them in force.  For costs and complete details,call MetLife at 1-800-846-0124.		               L0503EDT5(exp0307)MLIC-LD

**Notes:**
Say:  In review, today we have asked talked about why we need life insurance, the importance of assessing your needs frequently, what is available to you under the new plan options and how to determine how much is right for you and your family.  

The next step is to enroll.  As you can see, you have a limited time to enroll with your enrollment deadline being April 1, 2005.

First decide how much Basic Life Insurance and Dependent Life Insurance you need.  Use the Life Insurance Calculator to determine the appropriate amount that will satisfy the needs of your family.   You can then enroll for Basic Life Insurance and AD&D Insurance and Dependent Life Insurance conveniently online at www.metlife.com/mybenefits.

If you have questions about any aspect of this coverage, call an enrollment specialist directly at 1-800-846-0124.  Experienced, knowledgeable professionals are available to answer your questions conveniently and privately, by phone.  They’re there to help you understand how your coverage works and answer any enrollment questions you may have.  Then submit your enrollment online by the Enrollment Deadline of March 18th.  

With a better understanding of what it will take to satisfy your families needs ask yourself, “Is this enough?”

This coverage is likely a good foundation for providing the financial security your family needs, but many people make a mistake and assume it is enough should something happen to them. Your employer recognizes that each of you has different needs and is offering you the important opportunity to purchase additional insurance. 

Employees electing Basic Life and AD&D coverage will also have the opportunity to elect additional    coverage through a new life plan option called Group Variable Universal Life.

## Slide 9