MetLife has enhanced its group life benefits portfolio by adding estate resolution services as a standard feature to its supplemental Term Life, Group Universal Life and Group Variable Universal Life coverages in those US states that have approved the feature.
According to the company, MetLife Estate Resolution Services can help employers increase employees’ appreciation of their group life insurance program by adding this new feature that helps alleviate the administrative and financial burden of probating an employee’s estate.
The Estate Resolution Services feature is not currently available in all states and availability is subject to regulatory approval. Where available, the new feature will be effective for new and renewing business in 2009 as an enhancement to MetLife’s portfolio of supplemental group life products for employers with over 500 eligible employees.
Graham Cox, vice president of group life products management, said: MetLife Estate Resolution Services is an exciting addition to our group life employee benefits offerings which now go full circle – from estate planning, such as Will Preparation, to the actual distribution of an estate’s assets.
The new services can provide employees with the added comfort of knowing that their estate’s executor will have valuable assistance in a difficult time – especially important as many executors have no prior experience handling such matters.