Tag Archives: group

Insurance and Employee Benefits, MetLife, group life insurance.#Group #life #insurance

by ,

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Navigating life together

Group life insurance

Flexible solutions for real life

Group life insurance

Coverage you can count on for your vehicle

Group life insurance

Benefits that work for how you work

I am interested in:

I want to find a MetLife:

You may also be interested in:

Group life insurance

Apply for MetLife Rapid Term life insurance for coverage up to $500,000, with no medical exam required, just a few health questions.

Group life insurance

Part of our U.S. business has separated from MetLife to become its own company.

Group life insurance

Insurance

The descriptions below may help you identify your dental network. If not, log in to MyBenefits to find a dentist.

  • Supports the MetLife Preferred Dentist Program, a Dental PPO plan
  • Visit any licensed dentist or specialist (however, out of pocket costs are usually lower when you go to a participating dentist)

PDP Plus

  • Offers the greatest selection of participating dentists and specialists for the MetLife Preferred Dentist Program, a Dental PPO plan
  • Visit any licensed dentist or specialist (however, out of pocket costs are usually lower when you go to a participating dentist)
  • Federally Facilitated Marketplace customers, please select this plan if you reside in one of the following states: AZ, FL, GA, IL, MI, MO, NC, NJ, OH, PA, TX, VA, WI. (Note: this listing of states on the Federally Facilitated Marketplace where MetLife has filed to be a participating SHOP dental carrier is subject to change)
  • State based marketplace participants from the NY State of Health and DC Health Link, please select the PDP Plus Network

Dental HMO/Managed Care

  • Available only to employees living in CA, FL, NJ, NY and TX
  • Enrolled members pre-select a primary care dentist for all dental services
  • Federal or State Marketplace customers, please select this network for Dental HMO/Managed Care Plans. Plan names begin with your state abbreviation (Ex: FL Family Basic Plan for Florida)
  • State based marketplace participants from the NY State of Health and DC Health Link, please select the PDP Plus Network

Federal Dental (FEDVIP)

  • Supports the MetLife Federal Dental Plan, a Dental PPO Plan
  • Available only to certain Federal government employees and their dependents
  • Visit any licensed dentist or specialist – however, your out-of-pocket costs are usually lower when you go to a participating dentist

Don’t know your vision plan?

The descriptions below may help you identify your vision network. If not, log in to MyBenefits to find a vision provider.


Group Term Life Insurance, Internal Revenue Service, group life insurance.#Group #life #insurance

by ,

Group-Term Life Insurance

Total Amount of Coverage

IRC section 79 provides an exclusion for the first $50,000 of group-term life insurance coverage provided under a policy carried directly or indirectly by an employer. There are no tax consequences if the total amount of such policies does not exceed $50,000. The imputed cost of coverage in excess of $50,000 must be included in income, using the IRS Premium Table, and are subject to social security and Medicare taxes.

Carried Directly or Indirectly by the Employer

A taxable fringe benefit arises if coverage exceeds $50,000 and the policy is considered carried directly or indirectly by the employer. A policy is considered carried directly or indirectly by the employer if:

  1. The employer pays any cost of the life insurance, or
  2. The employer arranges for the premium payments and the premiums paid by at least one employee subsidize those paid by at least one other employee (the “straddle” rule).

The determination of whether the premium charges straddle the costs is based on the IRS Premium Table rates, not the actual cost. You can view the Premium Table in the group-term life insurance discussion in Publication 15-B.

Because the employer is affecting the premium cost through its subsidizing and/or redistributing role, there is a benefit to employees. This benefit is taxable even if the employees are paying the full cost they are charged. You must calculate the taxable portion of the premiums for coverage that exceeds $50,000.

Not Carried Directly or Indirectly by the Employer

A policy that is not considered carried directly or indirectly by the employer has no tax consequences to the employee. Because the employees are paying the cost and the employer is not redistributing the cost of the premiums through an insurance system, the employer has no reporting requirements.

Example 1 – All employees for Employer X are in the 40 to 44 year age group. According to the IRS Premium Table, the cost per thousand is .10. The employer pays the full cost of the insurance. If at least one employee is charged more than .10 per thousand of coverage, and at least one is charged less than .10, the coverage is considered carried by the employer. Therefore, each employee is subject to social security and Medicare tax on the cost of coverage over $50,000.

Example 2 – The facts are the same as Example 1, except all employees are charged the same rate, which is set by the third-party insurer. The employer pays nothing toward the cost. Therefore there is no taxable income to the employees. It does not matter what the rate is, as the employer does not subsidize the cost or redistribute it between employees.

Coverage Provided by More Than One Insurer

Generally, if there is more than one policy from the same insurer providing coverage to employees, a combined test is used to determine whether it is carried directly or indirectly by the employer. However, the Regulations provide exceptions that allow the policies to be tested separately if the costs and coverage can be clearly allocated between the two policies. See Regulation 1.79 for more information.

If coverage is provided by more than one insurer, each policy must be tested separately to determine whether it is carried directly or indirectly by the employer.

Coverage for Spouse and Dependents

The cost of employer-provided group-term life insurance on the life of an employee’s spouse or dependent, paid by the employer, is not taxable to the employee if the face amount of the coverage does not exceed $2,000. This coverage is excluded as a de minimis fringe benefit.

Whether a benefit provided is considered de minimis depends on all the facts and circumstances. In some cases, an amount greater than $2,000 of coverage could be considered a de minimis benefit. See Notice 89-110 for more information.

If part of the coverage for a spouse or dependents is taxable, the same Premium Table is used as for the employee. The entire amount is taxable, not just the amount that exceeds $2,000.

Example 3 – A 47-year old employee receives $40,000 of coverage per year under a policy carried directly or indirectly by her employer. She is also entitled to $100,000 of optional insurance at her own expense. This amount is also considered carried by the employer. The cost of $10,000 of this amount is excludable; the cost of the remaining $90,000 is included in income. If the optional policy were not considered carried by the employer, none of the $100,000 coverage would be included in income.


State Group Life Insurance, Employee Benefits, group life insurance.#Group #life #insurance

by ,

State Group Life Insurance

If you are a new employee and are looking for benefit information for the 2017 plan year, please continue to explore this website.

This website will be updated with 2018 plan year information in December. In the mean time, if you are looking for information for the 2018 plan year, you may visit the Annual Benefits Enrollment (ABE) website at: wisconsin.edu/abe.

Overview

State Group Life Insurance (SGL) offers term life insurance to employees and their spouse or domestic partner and eligible children. Coverage is based on an employee’s annual salary. An employee may elect coverage of up to five times his or her annual salary, up to $20,000 of spouse or domestic partner coverage and up to $10,000 of child coverage.

In addition to benefits payable in the event of a death, this plan provides the following benefits:

  • Employee coverage is based on your annual earnings – if your annual earnings increase, your coverage automatically increases the following year.
  • If you are terminally ill with a life expectancy of 12 months or less, you may receive up to the full amount of your coverage prior to your death.
  • If your death is accidental, your death benefit will double.
  • If you have a dismemberment or experience loss of use, you will receive a portion of your benefit.
  • Conversion pdf of coverage to an individual policy at the end of employment.
  • Continuation of coverage at retirement or termination with at least 20 years of WRS service (eligibility requirements must be met). No longer required to pay premium when you turn 65 and are retired.
  • Premiums may be waived if you become totally disabled.
State Group Life Insurance is administered by the Department of Employee Trust Funds (ETF) and is underwritten by Securian Financial Group.

Eligibility

You must meet the following requirements to be eligible for this plan:

  • Eligible for coverage under the Wisconsin Retirement System (WRS); and
  • Under age 70 at the time of initial eligibility (if 70 or older when initially eligible, can only apply for coverage through Medical Evidence of Insurability); and
  • Not receiving a Wisconsin Retirement System annuity.

Enrollment

You have 30 days from your date of employment or your newly benefits-eligible job to enroll yourself and eligible family members in State Group Life Insurance (SGL). Your coverage will begin on the first day of the month following 30 days from your eligibility date.

If you do not enroll in SGL during your initial 30-day enrollment period, you may apply for coverage if you have a qualifying life event (see Life Events) or at any time through Evidence of Insurability pdf (acceptance not guaranteed).

For enrollment through a qualifying life event, coverage is effective on the first of the month following thirty (30) days after the date of event. Coverage through evidence of insurability is effective on the first of the month on or following the approval of your application by the plan’s underwriter.

Note: You may decrease or cancel coverage at any time during the year.

Coverage Levels

Employee Coverage

Select one to five units of employee coverage. Each unit of coverage is based on your annual salary, rounded to the nearest $1,000. Your coverage level will automatically increase if your salary increases and is adjusted annually.

Spouse/Domestic Partner Dependent Coverage

Select one or two units of spouse/domestic partner dependent coverage. Each unit insures your spouse or domestic partner for $10,000 and each dependent child for $5,000. All children will be covered under dependent coverage. You must enroll in Employee coverage in order to enroll in Spouse/Domestic Partner Dependent coverage.

For detailed information regarding who you can cover on this plan, see the Dependent Eligibility Grid (UWS 25) pdf .

Beneficiary Information

You are strongly encouraged to designate a beneficiary(ies) to ensure benefits are paid according to your wishes. To designate a beneficiary(ies), complete the Beneficiary Designation Form pdf and submit it directly to the Department of Employee Trust Funds (ETF).

If there is no eligible beneficiary, or you do not name one, benefits will be paid in the following order:

  • Your surviving spouse or domestic partner, otherwise;
  • Your surviving children equally; if one of your children dies before you, that child’s share is divided between your deceased child’s children, otherwise;
  • Your surviving grandchildren equally; if one of your grandchildren dies before you, that grandchild’s share is divided between your deceased grandchild’s children, otherwise;
  • Your surviving parents equally, otherwise;
  • Your surviving siblings equally; if one of your siblings dies before you, that sibling’s share is divided between your deceased sibling’s children, otherwise;
  • Your estate.

All claims associated with a covered spouse, domestic partner or child will be paid to the employee.

Note: State Group Life (SGL) and the Wisconsin Retirement System (WRS) use the same Beneficiary Designation form. If you would like to have your beneficiary(ies) be the same for SGL and WRS, only one form is needed. If you would like to have your beneficiary(ies) be different for SGL and WRS, two forms are needed and the plan needs to be indicated on the form.

For more information, see Beneficiary .

Premiums

For State Group Life Insurance premiums, see the Premiums page.

Forms Resources

  • Application pdf
  • Certificate of Coverage pdf
  • Beneficiary Designation Form pdf
  • Living Benefit Brochure pdf
  • Conversion pdf
  • Evidence of Insurability Form pdf
  • Continuation Form – Contact your human resources office if you need a continuation form. (Continuation at retirement is automatic)

Every effort has been made to ensure this information is current and correct. This page does not guarantee enrollment or the ability to make changes to your benefits.


Insurance and Employee Benefits, MetLife, group life insurance.#Group #life #insurance

by ,

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Group life insurance

Navigating life together

Group life insurance

Flexible solutions for real life

Group life insurance

Coverage you can count on for your vehicle

Group life insurance

Benefits that work for how you work

I am interested in:

I want to find a MetLife:

You may also be interested in:

Group life insurance

Apply for MetLife Rapid Term life insurance for coverage up to $500,000, with no medical exam required, just a few health questions.

Group life insurance

Part of our U.S. business has separated from MetLife to become its own company.

Group life insurance

Insurance

The descriptions below may help you identify your dental network. If not, log in to MyBenefits to find a dentist.

  • Supports the MetLife Preferred Dentist Program, a Dental PPO plan
  • Visit any licensed dentist or specialist (however, out of pocket costs are usually lower when you go to a participating dentist)

PDP Plus

  • Offers the greatest selection of participating dentists and specialists for the MetLife Preferred Dentist Program, a Dental PPO plan
  • Visit any licensed dentist or specialist (however, out of pocket costs are usually lower when you go to a participating dentist)
  • Federally Facilitated Marketplace customers, please select this plan if you reside in one of the following states: AZ, FL, GA, IL, MI, MO, NC, NJ, OH, PA, TX, VA, WI. (Note: this listing of states on the Federally Facilitated Marketplace where MetLife has filed to be a participating SHOP dental carrier is subject to change)
  • State based marketplace participants from the NY State of Health and DC Health Link, please select the PDP Plus Network

Dental HMO/Managed Care

  • Available only to employees living in CA, FL, NJ, NY and TX
  • Enrolled members pre-select a primary care dentist for all dental services
  • Federal or State Marketplace customers, please select this network for Dental HMO/Managed Care Plans. Plan names begin with your state abbreviation (Ex: FL Family Basic Plan for Florida)
  • State based marketplace participants from the NY State of Health and DC Health Link, please select the PDP Plus Network

Federal Dental (FEDVIP)

  • Supports the MetLife Federal Dental Plan, a Dental PPO Plan
  • Available only to certain Federal government employees and their dependents
  • Visit any licensed dentist or specialist – however, your out-of-pocket costs are usually lower when you go to a participating dentist

Don’t know your vision plan?

The descriptions below may help you identify your vision network. If not, log in to MyBenefits to find a vision provider.


Group Life Insurance: Benefits Consultant, group life insurance.#Group #life #insurance

by ,

Group Life Insurance

  • eligibility
  • plan requirements
  • schedule of benefits coverage/benefit amount
  • benefit maximums
  • reduction rules
  • how premium rates are calculated
  • Earnings schedule: This is the most common methods of determining an employee s insurance amount and is based (as the title stipulates) on a percentage or multiple of annual earnings. Employee earnings for this type of schedule includes only base earnings (excludes bonus). Generally coverage is provided equal to one times earnings, however can be provided at two or three times earnings. Typically, higher multiples are provided for classes of executives. The benefit amount is rounded to the nearest higher $1,000 and may be subject to a maximum benefit amount.
  • Flat benefit schedule: Earnings and position/class are not important under a flat benefit schedule. With this form of benefit schedule, all employees are grouped under one class and all receive the same benefit amount regardless of earnings or position/class. Flat benefit schedules are commonly used among unionized groups covering hourly employees.
  • Length of service schedule: The benefit amount using this type of schedule increases with the number of years an employee has been working for the employer. Once used as a means of rewarding long-service employees, this schedule is rarely used anymore. This schedule can be challenged as discriminatory under human rights legislation in certain cirmcumstances.
  • Combination schedule: Benefit amounts can also be based on a schedule that is tied to various employment factors, such as earnings and position, and often chosen by the employer to reward the most valuable employees. A common insurance schedule can be designed to provide salaried employees with insurance based on a multiple of earnings, while hourly employees are eligible for a flat benefit amount.
  • coverage can be reduced by a set percentage of pre-retirement coverage
  • the amount of coverage can be limited to a flat dollar amount
  • benefits can be reduced gradually on a declining scale by a certain percentage each year until a pre-determined minimum is reached.
  1. an employee s married or common law spouse of the same or opposite sex who has been living with the employee for at least 12 consecutive months
  2. unmarried children (including step-children and adopted children) of the employee and/or spouse between a specified age range, usually 14 days to 21 years of age (25 year if in full-time at school or university), who are dependent solely on the employee for financial support. Dependent children, who prior to attaining limiting ages, were insured under the plan and who become mentally or physically incapacitated may continue to be covered beyond such ages, provided they continue to be dependent solely on the employee for financial support.

With an aging population and a wave of baby boomers on the verge of retiring in the coming years, post-retirement benefits, including post-retirement life insurance, are receiving considerable attention from employers.


Premium Insurance Group #life #insurance #death #benefit

by ,

#insurance premium

#

Insurance Is a Matter of Trust

Life is filled with unforeseeable events, such as a fender-bender on the way to work or sudden water damage at home. In these situations, it’s important to know that you can rely on your insurance policy to protect you.

As an independent insurance agency, Premium Insurance Group helps you find insurance solutions tailored to your individual needs. We draw from a vast pool of personal, property and commercial insurance policies.

We invite you to explore our comprehensive consulting services and get to know our competent and friendly staff.

Personal liability insurance

Personal liability insurance is one of the most important policies you can own. Find out what sort of coverage your policy should provide.

Accidents or illness can take place at the blink of an eye, but the consequences can be far-reaching and may include prohibitive medical bills or disability. Be sure that your health insurance has you covered.

Website Disclaimer – Review Carefully:

This information is not an offer to sell insurance. Insurance coverage cannot be bound or changed via submission of this online form/application, e-mail, voice mail or facsimile. No binder, insurance policy, change, addition, and/or deletion to insurance coverage goes into effect unless and until confirmed directly with a licensed agent. Note any proposal of insurance we may present to you will be based upon the values developed and exposures to loss disclosed to us on this online form/application and/or in communications with us. All coverages are subject to the terms, conditions and exclusions of the actual policy issued. Not all policies or coverages are available in every state. You also agree to release us from any liability if this information is accidentally viewed by unauthorized persons. We will only use this information for insurance quoting purposes and not distribute to other parties.


Sun Life Financial – Individual life insurance and group life insurance – Sun Life Financial

by ,

#individual life insurance

#

Life insurance

No one likes to think about needing life insurance. But including insurance in your financial plan now can benefit you and your family in the future.

We offer a range of individual life insurance and group life insurance solutions. So you can protect your family’s quality of life no matter what the future brings, and save your loved ones the stress of financial worries during an already stressful time.

Life insurance is an important part of a full financial plan. It’s a crucial component of estate planning, and can hasten estate settlements. Your beneficiary receives a cash benefit.

Term policies are temporary and provide death benefits only. Permanent policies accrue a cash value that can offer protection in your later years. The value of these policies can supplement your retirement income or pay for other unexpected expenses. Some life insurance policies offer flexible premiums and payouts.

If you’re an employer or a group plan sponsor, offering group life insurance as part of your benefits package is a great way to attract and retain employees. For individuals, insurance needs change over time. We offer a variety of individual life insurance policies to match your stage of life. Individual term life insurance, universal life insurance, along with policies that include components such as critical illness insurance, disability insurance, accident insurance, accidental death and dismemberment insurance.

Explore Sun Life’s products

Discover what products and services we offer in your region.


Sun Life Financial – Individual life insurance and group life insurance – Sun Life Financial

by ,

#individual life insurance

#

Life insurance

No one likes to think about needing life insurance. But including insurance in your financial plan now can benefit you and your family in the future.

We offer a range of individual life insurance and group life insurance solutions. So you can protect your family’s quality of life no matter what the future brings, and save your loved ones the stress of financial worries during an already stressful time.

Life insurance is an important part of a full financial plan. It’s a crucial component of estate planning, and can hasten estate settlements. Your beneficiary receives a cash benefit.

Term policies are temporary and provide death benefits only. Permanent policies accrue a cash value that can offer protection in your later years. The value of these policies can supplement your retirement income or pay for other unexpected expenses. Some life insurance policies offer flexible premiums and payouts.

If you’re an employer or a group plan sponsor, offering group life insurance as part of your benefits package is a great way to attract and retain employees. For individuals, insurance needs change over time. We offer a variety of individual life insurance policies to match your stage of life. Individual term life insurance, universal life insurance, along with policies that include components such as critical illness insurance, disability insurance, accident insurance, accidental death and dismemberment insurance.

Explore Sun Life’s products

Discover what products and services we offer in your region.


SystemStar Software Estimation Tool based on COCOMO II and COSYSMO 2, from Softstar Systems #costar

by ,

#

Introduction to SystemStar

SystemStar implements two types of models:

  • COCOMO — Software Cost Estimation
  • COSYSMO — Systems Engineering Cost Estimation

SystemStar is a cost estimation tool based on the Constructive Cost Model (COCOMO®) created by Dr. Barry Boehm and the Constructive Systems Engineering Model (COSYSMO) created by Dr. Ricardo Valerdi. Engineers use SystemStar to produce estimates of a project’s cost. SystemStar lets you make trade-offs and experiment with “what-if” analyses to arrive at a satisfactory project plan.

We plan to implement the COCOMO III and COSYSMO 3.0 models as soon as they are completed.

To learn about SystemStar before you download it, check out the SystemStar Guided Tour.

COCOMO

COCOMO is the world’s most widely used software estimation model.

Software project managers use SystemStar to produce estimates of a project’s duration. staffing levels. effort. and cost. SystemStar lets you make trade-offs and experiment with what-if analyses to arrive at the optimal project plan.

COCOMO is described by Barry Boehm in his books Software Engineering Economics and Software Cost Estimation with COCOMO II .

COCOMO has continued to evolve and improve since its introduction. Read a brief history of COCOMO for a summary.

SystemStar supports the traditional COCOMO, and the most recent models:

COSYSMO

SystemStar supports the original COSYSMO model and the latest COSYSMO 2.0 model.

COSYSMO is described in Dr. Valerdi s dissertation The Constructive Systems Engineering Cost Model (COSYSMO). which is installed with the SystemStar demo.

Looking for Costar?

Costar was our original COCOMO tool.

Costar has been largely superseded by SystemStar, which has more features, and implements more estimating models.

Quick Facts


Servicemembers Group Life Insurance (SGLI) – Life Insurance, group term insurance.#Group #term #insurance

by ,

#

Life Insurance

SGLI is a program that provides low-cost term life insurance coverage to eligible Servicemembers. If eligible, you are automatically issued the maximum SGLI coverage. If you qualify for SGLI, you are automatically enrolled and do not need to apply for coverage.

Servicemembers can make changes to your SGLI coverage. For example, Servicemembers can decline SGLI coverage, select a lesser amount than maximum coverage, designate beneficiaries, and/or make other changes.

Eligibility

You are automatically insured under full-time SGLI if you are one of the following:

  • Active duty member of the Army, Navy, Air Force, Marines, or Coast Guard
  • Commissioned member of the National Oceanic and Atmospheric Administration (NOAA) or the U.S. Public Health Service (USPHS)
  • Cadet or midshipman of the U.S. military academies
  • Member, cadet, or midshipman of the Reserve Officers Training Corps (ROTC) engaged in authorized training and practice cruises
  • Member of the Ready Reserve or National Guard and are scheduled to perform at least 12 periods of inactive training per year
  • Servicemember who volunteers for a mobilization category in the Individual Ready Reserve (IRR)

Coverage

SGLI coverage is available in $50,000 increments up to the maximum of $400,000. Covered members receive 120 days of free coverage from their date of separation. Coverage can be extended for up to two years if the Servicemember is totally disabled at separation. Part-time coverage is also provided to Reserve members who do not qualify for full-time coverage (members covered part-time do not receive 120 days of free coverage).

If you are totally disabled at the time of separation (unable to work), you can apply for the SGLI Disability Extension, which provides free coverage for up to two years from the date of separation. At the end of the extension period, you automatically become eligible for VGLI, subject to premium payments.

Ready Reserve or National Guard Members in Non-Pay Status

You are generally still covered by SGLI if you are a member of the Ready Reserve or National Guard and are:

  • scheduled to perform at least 12 periods of inactive training per year, AND
  • are drilling for points, rather than pay.

SGLI premium rates are the same as those drilling for pay. However, each branch of service handles payment of premiums during this non-pay period differently. If you are a drilling Reservist or Guard member in a non-pay status and have questions about whether you are covered by SGLI and how to pay your premiums, view our branch of service contact list for the number to call for information.

Cost/Rates

If you have SGLI coverage, you pay a monthly premium that is automatically deducted from your base pay. The current basic SGLI premium rate is 7 cents per $1,000 of insurance. The premium includes an additional $1.00 per month for Traumatic Injury Protection coverage (TSGLI).