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

Guaranteed Variable Universal Life Insurance Benefit is equal to 3x your base salary
(MetLife) up to $1,000,000
Paid by Major League Baseball

GVUL Note: Your GVUL policy helps you build cash value by providing you the option to contribute
after-tax dollars, in addition to the life insurance premium, into your policy. You have the choice to
allocate these additional investment dollars into a selection of professionally managed investment
portfolios as well as an interest-bearing account, which has a minimum guaranteed rate of return. All
potential earnings on your investment grow tax-deferred, so you get to keep more of what you’ve
earned.

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

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

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 AD&D Policy

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