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Life insurance contributes to your family’s peace of mind by providing a measure of financial protection in the event of your death. Marathon Petroleum provides you with Basic Life Insurance at no cost to you. We also offer additional Optional Life Insurance for you and dependent coverage for your spouse and children.

Life Insurance Overview

Your Company-paid Basic Life Insurance coverage is equal to two times your covered compensation, rounded to the nearest $1,000 (maximum $3,000,000). This coverage is automatic — you don’t have to enroll, but you do need to designate a beneficiary to receive the benefit in the event of your death.

The plan also allows you to purchase additional coverage of one to six times your covered compensation, rounded to the nearest $1,000 (maximum $2,000,000). Coverage in excess of $750,000 requires a statement of health. You can increase coverage each year during the Annual Enrollment period, up to the plan limit, however increases greater than one times will require a statement of health.

Note: A separate Level Premium Life Insurance Plan has been closed to new participants since June 1994. If you are enrolled in this plan, you cannot participate in Employee Life Insurance coverage described above.

Dependent Life Insurance

You may also purchase life insurance for your spouse/DP and/or eligible children. You are the designated beneficiary of all dependent life Insurance benefits.

  • Optional Spouse Life: You can elect spouse coverage in $10,000 increments, up to a maximum of $100,000. Coverage in excess of $50,000 requires a statement of health. Additional coverage can be elected during Annual Enrollment, in $10,000 increments, up to $100,000, however all increases greater than $10,000 and/or all coverage over $50,000 will require a statement of health.
  • Optional Child Life: You can elect coverage of $10,000, $20,000 or $30,000. Premiums are a fixed amount regardless of the number of children covered.
Life Insurance Contributions

Monthly contribution amounts are for regular full-time and regular part-time employees. Rates are determined based on your age and/or your spouse’s age as of December 31.

Optional Life Insurance Rates (Age-Based Employee and Dependent)
Age Employee Spouse Child
Monthly Cost Per $1,000 of coverage Monthly Cost Per $1,000 of coverage Coverage Cost Per Month
Under 25 $0.028 $0.032 $10,000 $0.89
25 - 29 $0.034 $0.041 $20,000 $1.78
30 - 34 $0.045 $0.053 $30,000 $2.67
35 - 39 $0.053 $0.062    
40 - 44 $0.058 $0.068
45 - 49 $0.086 $0.102
50 - 54 $0.132 $0.156
55 - 59 $0.248 $0.292
60 - 64 $0.382 $0.451
65 - 69 $0.732 $0.865
70+ $1.265 $1.495

Here’s the easy math to calculate your monthly premium:

Conversion and Portability Options

If you leave the Company, you may be eligible to continue your Life Insurance coverage through the MetLife Insurance Company’s conversion and portability options. Should you choose one of these options for continuation of your insurance coverage, you will be purchasing your coverage directly from MetLife. Coverage issued by MetLife for this purpose is not part of any MPC employee benefit plan or employment practice.

If you are interested in converting or porting all or a portion of your lost coverage, you must contact MetLife within 31 days following your retirement or termination.

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