Page 15 - Touching All the Bases- Power point 2023 v2_Neat

Life Insurance- MetLife

The Life Insurance Plans offer financial protection to your family in the event of your death, as follows:

Note: Under government rules, the value of any life insurance over $50,000 is considered taxable income.
The “taxable” amount is added to your W-2 earnings and you pay ordinary income taxes on this amount.

Type of Coverage Plan Benefit
If annual earnings are less than $100,000,
Term Life Insurance (MetLife) then the benefit provided is 3x your base
Paid by Major League Baseball annual earnings up to a maximum of
$300,000.
If your annual earnings are more than
$100,000, then there is no term life
insurance benefit. Instead, you are eligible
Guaranteed Variable Universal Life Insurance (MetLife) for the GVUL program.

The overall GVUL maximum is $1,000,000.

Basic 3x your base annual earnings up to a
Paid by Major League Baseball maximum of $1,000,000.
Employee: 1, 2, 3, 4 or 5x your annual
salary.
Supplemental Spouse/Domestic Partner: $10,000
Paid by the Employee
increments to a maximum of $150,000
Children: $10,000 flat benefit

Click here for a detailed summary of your Life Insurance Policy

Accidental Death & Dismemberment Insurance – MetLife
This plan pays a benefit in the event of your accidental death, on or off the job, as shown below.
Dismemberment benefits are paid as a percentage of your maximum AD&D benefit, depending on the
severity of the injury. You are automatically enrolled for basic AD&D coverage. If you wish, you may
purchase additional coverage for yourself and your family members. You pay the cost through regular
payroll deductions throughout the year on a post-tax basis.

Type of Coverage Plan Benefit
Basic AD&D Insurance 3x your base annual earnings up to a maximum of
Paid by Major League Baseball $1,000,000
Up to $500,000 in $10,000 increments. Coverage
Voluntary AD&D Insurance for dependent family members is available at a
Paid by the Employee percentage of your benefit.

Note: You must complete a Beneficiary Designation Form for your life and AD&D benefits.Please be sure to
keep this important designation up-to-date.

Click here for a detailed summary of your Voluntary AD&D Policy

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