Life Insurance Isn't For You ... It's For People Who Depend On You
Most of us have some sort of life insurance ... either through work or a policy bought from an agent. But is your current coverage enough?
Financial experts recommend that you have 5 to 8 times your income in life insurance. Your unique needs change over time. Raises or promotions at work ... the birth or adoption of a child ... a new mortgage ... siblings or parents who rely on you for support ... even the impact of inflation can trigger an increased need for life insurance.
It may be time to take the steps to protect the future of those who depend on you. Enroll online today.
Can an associate be turned down for coverage?
Do I have to meet any medical requirements?
If you do not apply for yourself and your eligible family members when first eligible or during a special enrollment period, you will be required to answer a more comprehensive health questionnaire and be approved by the insurance company before coverage can begin.
If you apply when first eligible:
How much Supplemental Life Insurance can I get?
If you are a full-time associate, you can apply for coverage amounts equal to 1, 2, 3, 4, 5, 6, 7 or 8 times your basic annual earnings, subject to a minimum amount of 1 times basic annual earnings, or $10,000 (whichever is greater) and a maximum of $2,000,000.
If you are a part-time associate, you can apply for coverage amounts between $10,000 and $100,000 in increments of $10,000.
Spouse or children's coverage is permitted only when associate coverage is also issued.
Please note: Spouse and child coverage cannot exceed 100% of the amount of insurance for which the associate is insured, rounded down to the next lower $10,000.
How do I pay for my Supplemental Life Insurance coverage?
The Supplemental Life Insurance Plan premiums are paid through pay period deductions. After you enroll in coverage through the website, Publix will be informed of the premium to be deducted from your pay.
Can I keep this insurance if I leave Publix?
Your Supplemental Life Insurance coverage is yours even if you leave the company, as long as the group policy is in effect and you are under age 80. You will be sent a portability package to complete and return to Mercer Voluntary Benefits. You will be billed directly for your cost of coverage at portable rates. Portable rates may be higher than the active Publix rates.
Can I make a change or cancel my coverage during the year?
Yes. You can decrease or cancel coverage for yourself or your dependents at any time by sending a written request to Mercer Voluntary Benefits. You can also request coverage increases at any time; however, evidence of good health will be required if you are enrolling outside of your initial enrollment period. You may apply for coverage for your new spouse or child without evidence of good health if you have experienced a life event such as marriage, or birth of a child and apply for coverage within 30 days of the event.
How much will the Supplemental Life Insurance coverage cost?
|Age of Associate
Rates Per $10,000 of Coverage
Effective: 01/01/2016 - 12/31/2020
$0.50 per $5,000 in coverage
$1.00 per $10,000 in coverage
*Use age as of December 31 of the current year.
What happens if a pay period deduction is missed?
Missed pay period deductions for the Supplemental Life Insurance Plan are handled differently than they are for the health and long-term disability plans. You will not be billed at your home address for missed Supplemental Life Insurance Plan deductions. Instead, if you miss a pay period deduction, Publix Personal Plans will normally wait until you return to work or are receiving enough wages to pay for your Supplemental Life Insurance Plan deductions. Personal Plans will "re-spread" the missed deductions over the remainder of the plan year.
When this happens, Personal Plans will calculate how much money you have missed in deductions and count the number of regular pay periods in the remainder of the plan year. Personal Plans will then divide the total in missed deductions by the number of remaining pay periods in the year. The resulting number will be added to your pay period deduction for the remainder of the year so that by the end of the plan year, you have fully paid your total annual premium cost, including the missed pay period deductions. If you miss another pay period deduction, this re-spread process will be repeated.
For example, suppose your weekly deduction is $3.20 and you miss two pay period deductions in September:
|Original Pay Period Deduction for Coverage||$3.20|
|Total of 2 Missed Pay Period Deductions ($3.20 x 2)||$6.40|
|Total Missed Deductions Divided by Number of Remaining Pay Periods in Plan Year ($6.40/10 Pay Periods)||$0.64|
|New Pay Period Deduction for Remainder of Plan Year
($3.20 + $0.64= $3.84)
Associates should call Personal Plans at 1-888-374-6377 if they have questions regarding their pay period deductions.
What is an e-signature?
An e-signature allows you to submit enrollment requests online as if you had provided these statements in writing with your handwritten signature. It is important that you read all of the information and agree to be bound by it. Your statements will be relied upon by Publix and third party administrators and insurance companies. If the applicant is less than age 15, MetLife requires a parental/legal guardian signature to accept the enrollment. You may submit your election on this website, however a separate letter will be sent requesting this signature. E-signature in this situation is not accepted.
What is the criteria for a disabled child?
Disabled, unmarried children, regardless of age, may be covered provided: the dependent is incapable of self-sustaining employment by reason of mental retardation or physical handicap; the dependent was eligible to be covered by the Publix group benefit plans prior to reaching age 26 and the disability occurred prior to reaching age 26; and the dependent is chiefly dependent on you for support and maintenance.
When can I apply?
You can apply anytime!
At certain times you may be allowed to apply more easily for the Supplemental Life Insurance Plan by not completing as many questions. These times include:
When will my first Supplemental Life Insurance premium be deducted from my pay?
When would my coverage start?
Who administers the Supplemental Life Insurance Plan?
Mercer Voluntary Benefits manages and administers the Publix Supplemental Life Insurance Plan.
Mercer is a global consulting leader in talent, health, retirement, and investments. Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset — their people. Mercer's more than 20,500 employees are based in more than 40 countries, and they operate in more than 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital.
Who can apply?
You can apply if you:
If you can apply, you can also apply for coverage for these family members:
Who is the insurance carrier for the Supplemental Life Insurance Plan?
Publix selected Metropolitan Life (MetLife) as the Supplemental Life Insurance Plan carrier.
Metropolitan Life is a market leader for the portfolio of coverage options they offer and has been in business for over 136 years. Metropolitan Life is able to devote significant resources, which help to ensure that their customers provide their employees with superior employee benefit programs. As a result of their broad portfolio of protection options, Metropolitan Life serves over 24,000 Group Life customers, helping more than 23 million people enjoy an improved sense of financial security.
Who needs life insurance?
Everyone needs life insurance.
Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.
You've recently graduated from college.
You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.
You're the parent of small children.
You want to make sure they'll be able to keep the same lifestyle and attend college—even if you're not there to see it happen.
Your grown children are on their own.
But your children may rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.
Your spouse may be depending on your income for retirement.
But you're not sure your retirement savings is enough to keep up with a rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.
Like many families, you rely on two incomes to make ends meet.
You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.
You want to be sure your children can protect their futures, too.
Most children's life insurance coverage contains an innovative feature that allows them to convert their term life protection to a permanent life insurance plan at a higher premium when they become adults. This ensures that your children can protect their own families—no matter what health problems they may develop.
Why do you need Social Security numbers?
Why should I buy Supplemental Life Insurance through Personal Plans?
In addition to the advantages of the Supplemental Life Insurance Plan over other life insurance options, this plan offers even more special benefits:
What should I do if I have additional questions about my Supplemental Life Insurance Plan?
These documents are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.
Delivering The Promise Survivor Assistance Program provided by MetLife®.