While you were actively employed, basic life insurance coverage of at least two times your pay was available on an optional contributory basis. If you continue this coverage at retirement, it pays benefits to your beneficiary in the event of your death from any cause while you are insured.

If You Retired Before Age 65
If you retired before age 65, were eligible for an immediate pension benefit, and had basic life insurance coverage for at least one year immediately preceding retirement, you had these options:

• continue your full basic life insurance amount until age 65 by continuing to make your regular premium payments

  or

• take the reduced basic life insurance amount (as described under “If You Retired At Age 65 or After”) immediately at no cost to you.

When you reach age 65, your life insurance will be reduced.

If You Retired At Age 65 or After
If you retired at age 65 or after, a reduced amount of basic life insurance coverage will continue for the rest of your life provided you had basic life insurance coverage for at least one year immediately preceding retirement. This reduced coverage is currently provided at no cost to you.  Any difference between what was covered during active service and the basic life insurance reduced amount can be converted to an individual policy within 30 days from the date benefits were reduced by contacting any MetLife representative or by calling 1-877-275-6387 for the office nearest to you.

The term “Pay” is defined in the Glossary.
If you had basic life insurance coverage for at least one year but less than five years immediately preceding your retirement, your reduced insurance will be $625.

If you had basic life insurance coverage for at least five years immediately preceding your retirement, the amount of your reduced insurance will be the greater of:

• 1% of your basic life insurance amount just before retirement times your years of service (including any fraction of a year), plus $500, with a minimum of $2,500 or 25% of your basic life insurance just before retirement, up to a maximum of $10,000

  or

• 20% of your basic life insurance just before retirement.

If you retired after age 65, the amount of your reduced life insurance will be calculated using the amount of your basic life insurance in force at age 65.