MMC Benefits Handbook
The Plan at a Glance
This whole life insurance plan provides you with protection that builds up cash value. The chart below contains some important plan features. For more information, see "How the Plan Works."
Plan Feature
Plan Type
  • The plan is an interest-sensitive whole life insurance policy. You own the policy outright. Premiums will remain level. The coverage amount cannot be changed.
How the Plan Works
  • You may purchase coverage for yourself and you may also elect to cover your spouse (or approved domestic partner) and dependent children under this program.
  • You are eligible for up to three times your salary for a maximum of $200,000 under Contingent Guaranteed Issue guidelines as a new employee.
Additional Features
  • The policy is owned by you and is completely portable.
  • The policy can accumulate cash value at a minimum guaranteed rate of 4%. Plus, should the need arise, you can take a loan from your policy's cash value.
  • The full death benefit will be paid as long as the policy is in effect; it will not decrease as you grow older.
  • At retirement you can elect to take reduced paid-up insurance, depending on the amount in your policy's cash value, with no further premium payments.
  • You are eligible to participate in this program if you meet the eligibility requirements described below.
  • See "Participating in the Plan" for details, including eligibility requirements for your spouse/domestic partner and eligible children.
  • You can enroll at any time, but Evidence of Insurability is required if you enroll after 30 days from your eligibility date.
  • To enroll, contact Mercer Health & Benefits Administration at +1 800 225 2265.
  • Once enrolled, you may view your deduction amount by going to Voluntary Benefits (
  • If you wish to change coverage, where eligible, you must contact the Plan Administrator.
How Your Benefit is Calculated
  • At death, the face amount less any outstanding loan balances (including principal plus interest) will be paid to designated beneficiaries.
Advanced Payment of Benefit
  • The Plan contains a Living Benefit Option for employees. If you are certified by a medical physician to have a life expectancy of 12 months or less, you may receive an "advance" (subject to certain maximum limitations) against life insurance proceeds payable at the time of your death.
  • See "How the Plan Works" for details.
Contact Information
For more information, contact:
Mercer Health & Benefits Administration
Phone: +1 800 225 2265
If you have any questions about how the frozen plan affects your Personal Life Insurance Plan participation, please contact Mercer Health & Benefits Administration, Monday – Friday, 8:00 a.m. to 9:00 p.m. and Saturday, 8:00 a.m. to 2:00 p.m. Eastern time.
Claims Administrator
Phone: +1 800 635 5597
Marsh McLennan does not administer this Plan. The Personal Life Insurance Plan's Claims Administrator's decisions are final and binding.