Life for Life®

Life for Life means life insurance for your entire lifetime. First, you have term life insurance. Later, when your term life insurance concludes, you can convert to individual permanent life insurance that allows your coverage to continue for as long as you choose.

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Life for Life
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Highlights of Life to Life include:

  • Lots of choices. Insurance amounts from $100,000 to $2 million.**
  • Attractive premium rates. Lower rates for higher insurance amounts. Click here for 10-Year Term Premiums. Click here for 20-Year Term Premiums.
  • Automatic Benefit Increases (ABIs). Your insurance can increase repeatedly during the first ten years, even if your health fails and you become uninsurable.1 This could be the most valuable feature in any life insurance you have. Through ABIs, coverage can double over 10 years (to a maximum of $2 million).
  • No automatic reductions in insurance amount as you get older, but you can decrease coverage with a simple signed request.
  • Lifetime coverage. Once insured, you can remain insured as long as you want.
  • How much insurance do I need? The Collegiate Alumni Life Calculator (CALC) is a confidential online tool to help answer the question.
  • Automatic premium payment option. Straight from your bank account with no surcharge.

1Subject to the normal activities provision.
**If you seek more than $2,000,000 in coverage, call 800-635-7801, or email info@meyerandassoc.com.

10-Year Term Premiums

To download PDF, click here.

20-Year Term Premiums

To download PDF, click here.

Life for Life Brochure

To download PDF, click here.

Women and Life Insurance

Women are busy. So busy, in fact, that they may not stop to plan for their future. As economic contributors, caregivers of children and elderly parents, and household managers, women shoulder a large share of family responsibilities.

To read the rest of this article, click here.

Collegiate Alumni Life Calculator

CALC answers the question: How much life insurance do I need?

How much money will your family members need after you’re gone? That’s the question this Collegiate Alumni Life Calculator (called CALC) can help you estimate.  To read more about and use CALC, click here.

Metropolitan Life Insurance Company (MetLife) and its affiliates offer a full range of insurance and other financial products and services. MetLife is the largest life insurer in terms of life insurance “in-force” in North America, and offers financial products and services to over 90 of the top 100 FORTUNE 500® companies.

Meyer and Associates is proud to offer life insurance products underwritten by MetLife, a name alumni can trust. For information on MetLife’s financial strength, click here to leave this site and visit MetLife’s.

 

This summary of Life for Life highlights its major features. Complete terms are governed by the group policy Customer #156129, issued by Metropolitan Life Insurance Company, New York, NY 10166 to Collegiate Alumni Trust II. Details of policy provisions are in the Certificate provided to each insured person.

FREQUENTLY ASKED QUESTIONS

You may apply for coverage 10 years at a time.

  1. 10-Year* Period. You may first be insured for 10 years. Near the end of 10 years, you may request coverage for another 10 years. To qualify, you submit new evidence of your insurability each time you request a new 10- Year Period.

    You may apply for this term insurance, 10 years at a time, until age 75, which means that coverage in a final 10-Year Period may continue until as late as age 85.

  2. Extended Period. If you do not qualify for a new 10-Year Period, your coverage automatically moves to the Extended Period, regardless of your health. You are guaranteed the right to continue this term insurance until age 75.

  3. Lifetime Option. When your term insurance concludes at age 75 or later, regardless of your health, you may convert your coverage to permanent insurance.

    Note: Many other group insurance plans allow several entities to cancel coverage, e.g., employer, association, or insurance company.  Your Life for Life coverage cannot be cancelled by anyone except you as long as the Collegiate Alumni Trust continues the policy.
*The foundation of this Life for Life plan is 10-year term insurance. A plan with 20-year term is also available. Call for more information or visit AlumL4L.com.

Alumni/ae, students, faculty and staff of sponsoring alumni/ae associations, and their eligible family members (spouses, domestic partners, parents, children, and siblings) may apply—even if you do not. Each must be at least age 18 but under 75 for 10-year term and under 65 for 20-year term, when insurance begins and live in an eligible state.

  • Minimum:  $100,000.
  • Maximum: $2 million. In $1,000 increments.

If you seek more than $2,000,000 or less than $100,000 in coverage, call 800-635-7801, or email us.

Only you can decide. Use "CALC," a confidential online calculator designed to help you analyze your need. Consider using a calculator at least every five years—and whenever you have a notable change in your financial life—to reconfirm that your coverage amount is appropriate. Only you can ultimately decide, and this is one source of information to help answer that question.

Insurance may be increased through Automatic Benefit Increases and/or increases you request.

During each of the first 10 years, your insurance amount can automatically increase by 10% to help meet mounting needs. That allows your initial coverage to double gradually over 10 years, subject to the plan maximum of $2 million. To receive each increase, you must be under age 60 and able to perform normal activities as defined in your Certificate of Insurance. There is no extra paperwork, as you need not reapply or requalify. Your total premium increases annually to reflect your increased insurance. You may decline ABIs at any time, but once declined, they cannot be resumed.

If Automatic Benefit Increases do not provide enough total coverage to meet your needs, you may apply for more insurance at any time.

You may reduce your insurance through a simple signed request. Your coverage and premium are then adjusted.

A Living Benefit enables an insured person who is diagnosed with a terminal illness, and has a life expectancy of 24 months or less, to request that up to 80% of the insurance amount be paid while he or she is still living (minimum $10,000; maximum $1 million). The remainder continues as life insurance, for which a reduced premium is payable.

A Living Benefit payment is not taxable under current U.S. federal law. However, receipt of Living Benefits (technically "Accelerated Death Benefits") may affect eligibility for public assistance programs, so you should consult an advisor.

Death by suicide within the first two years is the only exclusion.

Unlike many other group insurance plans, your Life for Life coverage cannot be cancelled by anyone except you.

During a 10- or 20-Year Period — Term Insurance. Your premium is based on your sex, and your age and health when coverage begins, and it increases each time you enter a new five-year age bracket. Lower rates apply to higher insurance amounts. Slightly higher rates apply to Automatic Benefit Increases. Historically, most applicants have qualified for Preferred Plus or Preferred (both for non-smokers only), or Preferred Smoker or Standard Smoker, depending on the underwriting standards you meet. Other premiums are available for nonsmokers who don’t meet the standards for Preferred Plus or Preferred premiums. Click here for premium charts.

During the Extended Period — Term Insurance. Your premium is first determined by your sex and your age when you enter the Extended Period, and then it increases annually. These premiums are higher, sometimes notably so, than if you were insured for another 10-year period, but the mere availability of Extended-Period coverage can provide desirable protection, as it is available even if you have become uninsurable.

During the Lifetime Option — Permanent Insurance. Your premium is based on your age and risk class when you convert.

Determine how much insurance you need. CALC is one tool to help you.

Request a free quote and an enrollment form for yourself or a family member.

Select your beneficiary. You may choose more than one, and you may name your alma mater if you wish.

Send no money now. After your application is approved and you pay your first premium, you receive a Certificate with the details of your coverage. If you are not fully satisfied, simply return your Certificate within 30 days for a full refund.

Monthly automatic withdrawal from your bank. You do not write checks or worry about paying late. There is no processing fee for this convenience.

Semiannual bills payable by check. Semiannual premiums are six times monthly premiums. A fee of $6, subject to change, is added to each bill. To continue insurance, premiums must be paid on time. Therefore, monthly automatic withdrawal is recommended.

Acceptance is based on your current health, your health history, and other information you provide. You are asked to provide blood and urine samples to a medical professional who visits at your convenience, by appointment, usually at your home or business—at no cost to you. If more medical information is needed, it is requested from you or your medical providers.

Initial coverage (and any increases) begin on the day your application is approved if you are able to perform normal activities and the required premium is paid. However, after you receive approval, you may request a different effective date.

This means you must be able to perform the normal activities1 of a person of like sex and age and with like occupation or retirement status. If not, insurance begins on the day normal activities begin.

1 Normal Activities means that you are not confined to a Hospital (as defined in the Certificate) on the effective date, or at home under a Physician's (as defined in the Certificate) care for any medical reason or applying to receive or receiving disability income from any source for any medical reason on the date the coverage scheduled to become effective.

Two legal services are available, at no cost to you, with your Life for Life insurance when you use one of the plan’s 13,000 participating attorneys.

Will Preparation while you are insured. You, as well as your spouse or domestic partner, may have these documents prepared and updated:

  • Wills and testamentary trusts, including complex wills
  • Living wills
  • Powers of attorney
  • Codicils

Legal Assistance to your estate if you die while insured. This is for your beneficiaries and executor in settling your will and estate so that your probate assets can be transferred to your heirs. Services include:

  • Probate help to manage the legal process of paying your bills and completing your affairs
  • Preparation of documents and representation at court proceedings
  • Completion of forms and correspondence for transferring non-probate assets, such as proceeds from insurance policies, joint bank and stock accounts, and a residence
  • Associated tax filings

Legal Assistance services are also available to the estate of your spouse or domestic partner if he or she dies while you are insured.

Participating Attorney. All eligible legal fees are covered in full when you use a participating attorney. You have no claim form to complete, and your attorney handles the paperwork. For services not covered by this plan, the attorney quotes legal fees in advance.

Non-participating Attorney. If you use a non-participating attorney, you submit a claim form and receive reimbursement for covered services according to a fee schedule. You are responsible for any attorney’s fees that exceed your reimbursed amount.

Exclusions include tax planning; some conflict-of-interest matters; certain disputes and contests; appeals; expenditures such as court costs, filing and witness fees, judgments, and fines; and frivolous and unethical matters.

These legal services are arranged and administered by Hyatt Legal Services, a MetLife company. To ask questions or to access these services, contact Hyatt directly at 800-821-6400 Weekdays 8:00am – 7:00pm ET.

If you need a quote or an application or simply have questions, call 800-635-7801, or email info@meyerandassoc.com. Trained customer service representatives will be happy to provide the information you need. And naturally you'll be under no obligation.