Frequently Asked Questions

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Annis Bell
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1 Structured Settlements Frequently Asked Questions How can I change my address? There are three ways to make an address change: 1. Visit us online and download a Change of Address form and fax it to us. 2. Visit us online and download a Change of Address form and mail the document to MetLife (Please use the mailing address or fax number located on the form.) 3. Call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time to initiate over the phone or to request a form. How can I change my beneficiary? A beneficiary form is required to change or name a beneficiary. You may obtain the form by calling our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time. How can I change my name? There are three ways to request a name change: 1. Visit us online and download a Change of Name form and mail or fax the document to MetLife using the mailing address or fax number located on the form. 2 Call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time to request a form. 3. Send a written request for a name change with proof documentation to MetLife. Provide one of the following documents: Marriage Certificate Divorce Decree Court Order Passport Birth Certificate Driver s License State ID Social Security Card

2 How do I request a Duplicate Certificate? Call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time and request a Duplicate Certificate. What are MetLife's Ratings? Metropolitan Life Insurance Company has high financial strength and claims paying ability ratings from the major independent rating agencies A.M. Best, Standard and Poor's, Moody's, and Fitch. For detailed ratings information please visit Metlife.com and click on About Us. I received an Electronic Funds transfer form with my check. Do I need to have my payment directly deposited? No. However, if your check is lost, stolen or simply delayed in the mail and you call us for a replacement, the time it takes to stop payment on the check, reissue it and re mail it delays your funds even more. By directly depositing your payment, it is there for you each due date and there are virtually no delays. How do I enable or change my Electronic Funds Transfer (Direct Deposit)? You can enable or change your electronic funds transfer one of three ways: 1. Visit us online and download a Direct Deposit Enrollment Form and fax it to us. 2. Visit us online and download a Direct Deposit Enrollment Form and mail the document to MetLife. (Please use the mailing address and fax number located on the form.) 3. Call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time to initiate over the phone or to request a form. How do I request an income verification letter? An income verification letter may be obtained from one of two ways: 1. Send a written request for Income Verification to MetLife. Contact our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time for assistance. 2. Call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time to request an official form to complete. How do I stop a lost or stolen check? Contact our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time for assistance.

3 Can I cash out my Annuity or receive my payments early? No, payments cannot be accelerated, deferred, increased, or decreased, as outlined in your Certificate. How do I report a Death? Call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time to report a death. We require the following information with the death claim: Name of Deceased Copy of Certified Death Certificate Additional information will be needed to change the payee from the annuitant to the beneficiary; the requirements are established on a case by case basis, at the time of settlement. Once we are notified of the death, we will review and contact the appropriate party via mail to request the necessary information in order to change the benefit payments. Where can I obtain tax withholding forms? You can visit the IRS Forms and Publications website to download the forms you need. How do I update my tax withholdings if I have a taxable Structured Settlement? Please call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time to update tax withholdings and status. How do I know if my Structured Settlement is taxable? Please call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time and they will be able to provide you with this information. My payments are taxable and I am moving to a state with tax withholding, what should I do? Please call our Customer Service Center at Monday through Friday from 8:00 a.m. to 9:00 p.m. Eastern Time for assistance.

4 GLOSSARY Annuitant/Payee Annuity Assignee Assignee (2) Assignor Beneficiary Beneficiary Designation Benefit Certain & Life Annuity Certificate CMS Conservator The measuring life or person who receives the benefit of the annuity. An insurance contract from which a person receives fixed payments for a certain period of time or over their lifetime. The third party that accepts the obligation for the future payments from the defendant/defendant carrier (Assignor) and is usually affiliated with the life insurance company. During a factoring transaction this is a third party who purchases the rights to future payments owed to the annuitant. The original party obligated to make future payments outlined in the settlement agreement and is transferring its obligations to a third party (assignee). Person or persons designated to receive guaranteed benefits if the annuitant is not alive on the due date. Person(s)/entity who receive payment for any remaining guaranteed payments after the death of the annuitant. Can be chosen or changed by the annuitant, unless it is prohibited in the release. The payments to be received as scheduled in a settlement agreement. A form of annuity payment which pays for life, or for a guaranteed number of payments, whichever is longer. E.G. 10 year Certain and Life annuity pays for life but not for less than 10 years. Evidence of entitlement to an annuity showing the issuer, owner, annuitant, beneficiary and description of annuity benefit. Centers for Medicare & Medicaid Services. The agency within the US Department of health and human services that administers Medicare and Medicaid services. A conservator is used to manage an incompetent s estate. The same principles and categories of guardians apply.

5 Cost Of Living Adjustment (COLA) Court Order for the Guardian Custodian Death Commutation Defendant Factoring Guaranteed Benefit Guardian Ad Litem Guardian of the Estate Guardian of the Person IRC IRC 72(u)(3) IRC 104(a)(1) IRC 104(a)(2) A benefit type that increase at a fixed percentage or dollar amount from the previous payment. (Usually based annually.) Legal relationship created when a person/entity is assigned by the court to take care of minor children or incompetent adults. Individual appointed under a state s Uniform Transfer to Minors Act to control and manage specific property being transferred to a minor. Individual has a fiduciary duty to manage the property in the minor s best interest. A stipulation allowing a named beneficiary to receive a percentage of the unpaid annuity payments in a single lump sum upon the death of the annuitant. Must be stipulated at time of settlement. The party being sued from whom monetary relief is sought. The sale of future annuity payments to an outside third party in exchange for a lump sum, usually at a substantial loss for the annuitant. Annuity payments guaranteed to be made regardless of whether the annuitant is living. Individual appointed to represent the minor in any suit to which the minor may be a party. Individual cannot manage the financial estate of a minor. Individual appointed by the court to manage and control the personal and real property of a minor. Individual appointed by the court to care for a minor with regard to health, education and welfare. This individual does not have the authority to manage a minor s property or finance. Internal Revenue Code Comprehensive set of tax laws created by the Internal Revenue Service Tax law that addresses the tax treatment of annuity contracts owned by non natural persons, including the exceptions that exclude contracts which meet certain parameters. Tax law that allows monetary amounts received under Worker s Compensation acts to be excluded from gross income. Tax law that allows compensation received from personal physical injury or sickness to be excluded from gross income.

6 IRC Section 130 IRS 1099 form Joint & Survivor Annuity Life Only Annuity Lump Sum Annuity Minor s Compromise MSA Natural Guardian Next of Friend Novation Owner Payee Period Certain Annuity Tax law that allows periodic payments which are fixed and determinable and cannot be accelerated, deferred, increased or decreased by the recipient, to be excludable from your gross income. Shows taxable income received in the previous tax year, which must be reported as income to the IRS. Annuity with two annuitants designed to provide lifetime payments for both and continuing to the survivor. Can also be combined with a guaranteed period. Annuity which pays out only as long as the measuring life lives. Annuity designed to make a single payment at a certain date Approval by the court that a claim settled on behalf of a minor is fair and that the monies provided on behalf of the minor are deposited in an appropriate financial vehicle. Medical Set Aside. A portion of money from a workers compensation settlement that is arranged to pay out at certain periods for the current and future medical expenses of the annuitant. Parents of a minor who are charged with the care, custody and education of the minor. S/he is not court appointed and in most states cannot receive payment, or manage the financial estate of a minor. Court appointed individual charged with representing a minor in a lawsuit. Individual cannot manage the financial estate of the minor. The substitution of a third party for an obligor with the claimant s consent. Person or entity who owns the annuity. Person or entity that will receive payment(s) There may be one claimant/payee for a case, or there maybe once claimant with several payees depending on how the settlement is reached. Guaranteed payments by a life insurance company for a fixed period of time and predetermined amount.

7 Plaintiff Proof of Age Qualified assignment Qualified Assignment Document Settlement Agreement and Release Secured Creditor Temporary Life Annuity Trust (documents) Trustee Worker s Compensation Wrongful Death Action The party who sues and seeks compensation for injuries sustained. Government document used to verify age; currently birth certificate, passport or driver s license are accepted. A transfer of future payment obligation by a defendant/insurer to an assignee pursuant to IRC section 130. Document that mimics the release but is also signed by the Life Insurer who is the assignee. Life Insurer does not participate in the Settlement Agreement, so these two documents must match. (Worker s Compensation Order, Stipulation, or Settlement Agreement) an agreement for periodic payments of damages by the defendant/insurer [excludable under IRC 104(a) because the damages are a personal, physical injury]. A creditor which has the benefit of a security interest over the assets funding the periodic payment. Annuity that pays out for a certain period of time but only if the annuitant is alive. E.G. if it is a 10 year Temporary Life, we will pay for ten years but only if the annuitant is alive. In the 10 th year benefits cease regardless of whether the annuitant is still alive. Relationship created at the direction of an individual in which one or more persons (trustees) hold the individual s property with duties to use and protect it for the benefit of the beneficiary. Individual or corporation appointed to administer a trust set up on behalf of a minor or incompetent. Insurance from a state or an employer which provides for the cost of medical care and/or weekly payments to injured employees or to dependents of those killed in the industry regardless of blame. Claim by relatives of a victim who died allegedly as a result of a physical injury tort. metlife.com Any discussion of taxes is for general informational purposes only and does not purport to be complete or cover every situation. MetLife, its agents and representatives may not give legal, tax or accounting advice and this document should not be construed as such. You should confer with your qualified legal, tax and accounting advisors as appropriate. Metropolitan Life Insurance Company 200 Park Avenue New York, NY L [exp0219][All States] 2018 MetLife Services and Solutions, LLC

January 1, Dependent Children Life Insurance Plan MMC

January 1, Dependent Children Life Insurance Plan MMC January 1, 2009 Dependent Children Life Insurance Plan MMC Dependent Children Life Insurance Plan This plan is an employee-paid group term life insurance plan that helps you provide for your family s financial