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Montgomery County approves MetLife term life renewal; county premium to rise about $9,560
Summary
The Montgomery County Commission approved a renewal of county-paid basic term life and AD&D coverage with MetLife, accepting a 9% increase in basic life rates to a projected $71,746.44 annually and a two-year rate guarantee; Risk Management recommended maintaining coverage.
The Montgomery County Commission on Jan. 28 approved renewal of the county‑paid basic group term life and accidental death and dismemberment (AD&D) coverage with Metropolitan Life Insurance Company (MetLife).
Melissa Peak, director of risk management, recommended maintaining the coverage, which provides basic term life equal to 1 times an employee’s annual salary up to $50,000 and is fully paid by the county. The county’s current basic life rate was $0.175 per $1,000; MetLife’s renewal rate is $0.188 per $1,000, a 9% increase. The county’s projected annual premium under the renewal is $71,746.44, an increase of $9,560.87 over 2024, the memo shows. MetLife’s renewal includes a two‑year rate guarantee through Dec. 31, 2026.
The motion to approve the renewal was moved by Vice Chairman Carmen Moore‑Zeigler and seconded by Commissioner Daniel Harris; the approval carried unanimously with five commissioners voting yes. The renewal packet noted MetLife solicited underwriting information and offered the lowest quote among responding carriers and that some carriers declined to quote.
The renewal memo also notes that the annualized projection varies with monthly payroll changes from hires, terminations and salary adjustments. The commission did not change plan design; the action was limited to approving the carrier renewal and associated rates.
The commission’s formal session documents attach MetLife’s renewal letter, the rate table and a recommendation from the county’s broker, Alliance Insurance Group.
