MetLife Adds New Feature To Group Insurance Package
July 7, 2008
MetLife is biggest life insurance company in America. It is also America’s top purveyor of group life insurance to company employees. Today, MetLife announced an improvement its group life insurance program, intended to serve company employees. The company’s Term Life, Group Universal Life, and Group Variable Universal Life group life insurance plans now have an additional standard feature: estate resolution services. This feature is intended to make easier and cheaper the complicated and often expensive process of sorting out a deceased employee’s possessions.
Graham Cox, vice president of Group Life Products Management at MetLife, explained that the company’s estate resolution services “can provide emplooyees with the added comfort of knowing that their estate’s executor will have valuable assistance in a difficult time.”
He added that this assistance is very helpful to most estate executors, who find the role thrust upon them by unfortunate circumstance, and who have never before dealt with the complexities of probating an estate.
MetLife’s estate resolution services will provide the estate executor of an insured, deceased employee with a lawyer of the executor’s choice. The insurance company will pay for all lawyer’s fees if the lawyer in question participates in the MetLife-affiliated Hyatt Legal Plans program. Otherwise, MetLife will compensate the executor for the lawyer’s fees up to a limit.
The lawyer paid for by MetLife will represent paid to represent the estate executor in a court of law. The lawyer will also take care of all the paperwork required to move the probate assets from the estate of the deceased to his or her inheritors. The lawyer will also do what is needed to move non-probate assets into the possession of the inheritors. Moreover, the lawyer will take care of the tax paperwork associated with the whole procedure.
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