TA: GVUL
11-12-2023 | 02:48 PM
#181
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
I don’t think there is any cash accrual from company paid premiums in the GVUL. Any money you put in that is extra is yours and does not count against the death benefit. The only positive to the investing option is the company paid premiums count towards the cost basis of your investment money.
11-12-2023 | 02:53 PM
#182
Roll’n Thunder
Joined: Oct 2009
Posts: 5,148
Likes: 562
From: Pilot
11-12-2023 | 04:13 PM
#184
Gets Weekends Off
Joined: Jan 2014
Posts: 2,286
Likes: 18
11-14-2023 | 06:23 PM
#186
On Reserve
Joined: Oct 2023
Posts: 53
Likes: 2
11-14-2023 | 07:09 PM
#188
Line Holder
Joined: May 2022
Posts: 476
Likes: 107
Just to make sure I don't accidently cancel the $1.1m insurance. If you are switching to GVUL, you're OE should show signing up for the $50k policy, and then no amount under the GVUL one? Assuming that might be an option during step 2, which I don't want to do there either, but just seemed slightly confusing to me.
11-14-2023 | 07:54 PM
#190
Has a furrowed brow
Joined: Dec 2019
Posts: 1,438
Likes: 250
Just to make sure I don't accidently cancel the $1.1m insurance. If you are switching to GVUL, your OE should show signing up for the $50k policy, and then no amount under the GVUL one? Assuming that might be an option during step 2, which I don't want to do there either, but just seemed slightly confusing to me.
Delta is still providing 50K of life insurance (the max I believe it can offer as a benefit without imputed income).
The GVUL policy is separate through MetLife. On the 27th, we will receive instructions on how to sign up for GVUL as well as the level of coverage you are requesting.
**If you fail to complete that second step of the GVUL, you WILL NOT lose your full 1.1M coverage.**
It will just revert back to the current plan and you’ll have to wait until next open enrollment.
