Group Universal Life (GUL) Insurance Program

GUL is available in addition to company-provided basic life and AD&D insurance
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In addition to your company-provided basic life and accidental death and dismemberment coverage, BP’s Group Universal Life (GUL) Insurance Program offers you the opportunity to elect additional life insurance for yourself, your spouse/domestic partner and your eligible children. This option gives you flexibility as you plan for your family’s future financial needs.

The GUL Program is insured and administered by MetLife and:

  • Provides life insurance coverage at group rates; and
  • Gives you the chance to build cash value through the program’s Cash Accumulation Fund. 

If you enroll in GUL coverage, and if you die while covered, the GUL benefit will be paid in addition to any benefit paid under the Basic Life/AD&D Insurance Plan and/or the Occupational Accidental Death (OAD) Plan.


Because this document is intended as a summary of a BP benefits plan, it is not intended to describe each plan provision in full detail. More complete details are contained in the governing plan documents (including applicable insurance policies). While we intend to update this summary on a regular basis, it is possible that at any point this summary may be neither current nor complete. Further, differences between this summary and the applicable plan document are not intended. If, however, any differences are found to exist, the relevant provisions of the applicable plan document — and not the summary — will govern.

BP reserves the right to amend or terminate a plan at any time without advance notice.

 

Publication date: April 2017

 

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