Life & Accident Insurance

It is important to plan for your family’s financial security in case the unexpected happens. That’s why E*TRADE provides employees with basic life insurance and basic accidental death and dismemberment (AD&D) insurance — at no cost to you.

During Open Enrollment, you also have the option of buying Supplemental Life Insurance for yourself and your family through easy payroll deductions.

Basic Life and AD&D Insurance

Basic Life Insurance

E*TRADE automatically provides basic life insurance for you, at no cost, equal to 100% of your annual earnings to a maximum of $1,000,000. Your designated beneficiaries will receive a lump-sum payment if you die while employed by the Company. To choose your beneficiary, visit MetLife.com.

Accidental Death and Dismemberment Insurance (AD&D)

E*TRADE also automatically provides this coverage for you at no cost. The benefit is equal to 100% of your annual earnings to a maximum of $1,000,000, and will be paid to you or your beneficiaries if you lose a limb or die in an accident. Certain limits and maximums apply, so consult the policy documents for more information.

Note: "Annual Earnings" means your gross annual rate of pay, excluding overtime and other extra pay. “Annual Earnings” for Sales includes commissions and/or bonuses which shall be averaged for the most recent 12 month-period.

Supplemental Life Insurance

You may also choose to purchase additional life insurance for you and your family. You have the option to buy this coverage:

  • For yourself. Purchase supplemental insurance in increments of 100% of your earnings—up to five times your annual earnings or $1,000,000, whichever is less.
  • For your dependents. If you purchase additional coverage for yourself, you may also purchase coverage for your spouse/domestic partner in increments of $10,000, $25,000, $50,000, $125,000 or $250,000, and for children up to age 26 at either $5,000 or $10,000. The maximum amount of coverage is the lesser of 50% of your total Basic and Supplemental Life coverage, or $250,000.

Note: "Annual Earnings" means your gross annual rate of pay, excluding overtime and other extra pay. "Annual Earnings" for Sales includes commissions and/or bonuses which shall be averaged for the most recent 12-month period.

Protect your loved ones

To make sure your life insurance coverage works as you intend, keep your beneficiary designations up to date by making it an annual event. Visit MetLife.com review and update your beneficiaries.

Evidence of Insurability (EOI)

You are required to provide MetLife a Statement of Health form to purchase supplemental life insurance if:

  • When you are first eligible, you elect coverage that exceeds three times your annual salary or $500,000 (whichever is less) for yourself or over $50,000 for your spouse.
  • During Open Enrollment (or due to a qualified status event), you elect to increase your coverage by more than one level, or over the guaranteed issue amount.
Prepare a will, at no extra cost

If you enroll for any level of supplemental life insurance, you can take advantage of the will preparation benefit to get professional help creating a will (Simple, Complex, or Living) along with a Power of Attorney agreement. Visit info.legalplans.org for details.