NC State University offers a Voluntary Group Term Life Insurance plan through the UNC System to help employees and their family members have financial security in the event of a death. The UNC System offers a Voluntary Group Term Life and Accidental Dead and Dismemberment (AD&D) Policy partnering with Securian Financial. The Securian plan offers an added AD&D benefit for employee coverage of $10,000 for all eligible employees, at no cost.
Employees can choose to purchase Voluntary Group Term Life Insurance for themselves, legal spouses, domestic partner, and/or dependent children up to age 26.
Employee Eligibility
The Life Insurance Plan is a voluntary plan for eligible staff and faculty (SHRA/EHRA). Employees pay full cost for employee coverage in addition to any dependent coverage selected.
- Employees who work at least 20 hours per week (.5 FTE) on a 9-month or greater recurring contract are eligible to participate.
Dependent Eligibility
- Dependent Children are eligible for coverage up to the age of 26.
- Employees may submit documentation to maintain coverage for disabled child(ren) over the age of 26. Contact the benefits team for assistance with this process.
- Legal Spouses are eligible for the NCFlex coverage, Both Legal Spouses and Qualified Domestic Partners are eligible for Securian’s coverage.
Employees may elect to enroll in the Voluntary Group Term Policy within 30 days of their hire date, within 30 days of a qualified life event, or during annual enrollment each year. Changes to coverage can only be made during annual enrollment or within 30 days of a qualified life event (death, birth, marriage, divorce, etc.). If enrollment is completed outside of the newly hired initial 30-day eligibility period, medical underwriting/qualification will apply.
Coverage will end on the last day of the month in which your employment terminates, your employment status drops below eligibility criteria, or your dependent is no longer eligible.
UNC System Life Insurance
- Enroll, change or cancel coverage via My Pack Employee Self Service
- As a new hire or when changing coverage, if you are seeking greater than the gaurenteed issue amount for yourself or spouse, Evidence of Insurability will be required by Securian (through online enrollment portal).
- UNC System Voluntary Life Insurance & Accidental Death and Dismemberment Enrollment Guide
- Update Beneficaries Online
Plan Details
UNC Securian Life Insurance
The UNC System Securian Life Insurance & Accidental Death and Dismemberment (AD&D) plan is offered to all eligible NC State University employees (see above eligibility criteria). This plan provides coverage for employees, spouse/domestic partners and children. Deductions for this plan are taken on an after tax basis. Rates increase the following January 1 after a participant hits one of the five year rate bands. You may request coverage up to the maximum amount. The amount requested over the guaranteed issue amount is subject to approval by Securian and requires a statement of health.
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To help you understand how much supplemental life insurance to consider, try Securian’s life insurance calculator at www.lifeonlinecalculator.com.
- Employee Coverage: Multiples of 1x-8x salary up to a maximum of $1,000,000
- Spouse/Domestic Partner Coverage: $10,000 or $25,000 up to $250,000.
- Child Coverage: $10,000
- All eligible dependent children are covered under one plan at the same premium amount.
- Employee Coverage: lesser of 3 times base salary, not to exceed $500,000
- Spouse/Domestic Partner Coverage: $50,000
- Child Coverage: $10,000 (no statement of health required)
- Coverage elections greater than the guaranteed issue amounts
- Elections made after 30-day new hire enrollment period, or elections made due to qualifying life event
- Applicants previously denied coverage by Securian under this plan
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Securian Life Insurance Summary and Rates
How to update beneficaries online
Coverage Amounts
Guaranteed Issue
As a new employee, within your first 30-days of being hired you may enroll in a guaranteed issue amount of coverage without a Statement of Health. During annual enrollment, or within 30 days of a Qualifying Life Event those already enrolled in Securian coverage may increase Employee-only coverage on a guaranteed issue basis by 1 times salary up to $500,000 as long as coverage has not been denied previously.
Evidence of Insurability
Evidence of Insurability (Statement of Health), is required when an employee elects more than the gaurnteed issue amount noted above.
Continuation Options
Securian Life Insurance, dependent term life insurance and voluntary group term life insurance coverage ends upon your termination from the university or loss of eligibility. You may be able to continue all or a portion of your insurance through portability or convert to an individual policy.
Conversion vs. Portability
Retirees have the option to continue coverage through Securian’s Voluntary Retiree Life Insurance Plan.
VRL-Voluntary Retiree Life
Legal Financial and Grief Resources
Access professional services for a variety of needs, from legal matters and financial situations to coping with loss through comprehensive web and mobile resources as well as consultations. Securian Life Insurance includes resources such as will prep templates and free consultations by phone or in an attorney’s office. Click for more information on estate or will preparation service.
Lifestyle Benefits
Securian offers programs to help protect your finanical wellness. You and your family can rely on a suite of additional tools, support, guidance and services to help make life a little easier. Lifestyle Benefit Flyer.
- Legal, financial and greif resources
- Travel assistance including pre-trip resources and support for emergency travel assistance
- Legacy planning resources including end of life and funeral planning
- Beneficiary financial coaching includes independent, objective and free financial coaching for beneficaries
Premiums
UNC System Life Insurance Rates
Monthly Cost of CoverageEmployee/spouse/domestic partner voluntary life insurance (rates/$1,000/month)
| Age | Employee | Spouse/Domestic Partner |
|---|---|---|
| Under 25 | $0.040 | $0.023 |
| 25-29 | $0.044 | $0.027 |
| 30-34 | $0.049 | $0.032 |
| 35-39 | $0.055 | $0.038 |
| 40-44 | $0.063 | $0.046 |
| 45-49 | $0.087 | $0.070 |
| 50-54 | $0.135 | $0.118 |
| 55-59 | $0.221 | $0.204 |
| 60-64 | $0.351 | $0.334 |
| 65-69 | $0.633 | $0.616 |
| 70-74 | $1.001 | $0.984 |
| 75-79 | $1.253 | $1.236 |
| 80 and over | $1.830 | $1.813 |
UNC System Life Child(ren) Monthly Coverage Rates
- $10,000: $.050 (Only one employee can insure an eligible dependent child – one premium covers all children)