Life Insurance & Asset Protection

NC State University offers two Voluntary Group Term Life Insurance plans to help employees and their family members have financial security in the event of a death. The Office of State Human Resources offers a Voluntary Group Term Policy administered through VOYA, and NC State University offers a Voluntary Group Term Policy administered through MetLife.

Employees can choose to purchase Voluntary Group Term Life Insurance for themselves, legal spouses, domestic partner (MetLife policy only), and/or dependent children up to age 26. Employees may enroll in one or both plans if desired.

Employee Eligibility

Both life insurance plans are voluntary plans for eligible staff and faculty (SHRA/EHRA). Employees pay full cost for employee coverage in addition to any dependent coverage selected.

  • For MetLife, employees who work at least 20 hours per week (.5 FTE) on a 9-month or greater recurring contract are eligible to participate.
  • For NCFlex, eligible faculty/staff who work at least 20 hours per week (.5 FTE) 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 your assigned benefits consultant for assistance with this process.
  • Legal Spouses are eligible for the NCFlex coverage, Both Legal Spouses and Qualified Domestic Partners are eligible for NC State’s MetLife coverage.
    • MetLife Spouse/Domestic Partner coverage ends when he/she turns age 70.
    • NCFlex Life coverage is reduced by 50% when spouse reaches age 75.

Employees may elect to enroll in either 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.

MetLife Group Term Life

  • Enroll or change coverage by completing a MetLife Enrollment/Change Form
  • If seeking coverage for a domestic partner a Domestic Partner Declaration form must be completed.
  • As a new hire, if seeking greater than 3 times your base salary (up to $500,000), a Statement of Health form must completed and turned in to the HR Benefits Office.
  • As a new hire, if seeking greater than $50,000 in spouse/domestic partner coverage, a Statement of Health form must completed and turned in to the HR Benefits Office.
  • Adding or changing coverage outside of the newly hired initial 30-day eligibility period requires a Statement of Health form for both you and your spouse/domestic partner coverage.

NC Flex Group Term Life

  • To enroll, go to the MyPack Portal and log in. Under the Employee Self Service tiles>Click on the Benefit Details tile>Click on Enroll in Benefits (on the left–make sure your pop up blocker is off).  You will be logged in to the online enrollment system.
  • As a new hire, if seeking greater than the guaranteed issue of $200,000, Evidence of Insurability (EOI) will be required. NCFlex will send the EOI directly to you.
  • As a new hire, if seeking greater than $50,000 in spouse coverage, Evidence of Insurability (EOI) will be required. NCFlex will send the EOI directly to you.
  • Adding or changing coverage outside of the newly hired initial 30-day eligibility period requires Evidence of Insurability (EOI) for both you and your spouse.  NCFlex will send the EOI directly to you.

 

Plan Details

MetLife Group Term Life

The MetLife Group Term Life Insurance plan is offered to all eligible NC State University employees (see above eligibility criteria).  The plan is administered by NC State University in conjunction with MetLife.  This plan provides coverage for employees, spouse/domestic partners (up to age 70) and children (up to age 26).  Deductions for this plan are taken on a post-tax basis. Rates increase the month that 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 MetLife and requires a statement of health.

Coverage Amounts

  • Employee Coverage:  $10,000 up to $1,000,000 in $10,000 increments.
  • Spouse/Domestic Partner Coverage: $10,000 up to $100,000 in $10,000 increments.
  • Child Coverage: $10,000 or $2,000
    • All eligible dependent children are covered under one plan at the same premium amount.

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 those already enrolled in MetLife may increase Employee-only coverage on a guaranteed issue basis by $10,000, $20,000 or $30,000 as long as the new coverage amount is the lesser of 3 times base salary or $500,000.

  • Employee Coverage: 3 times base salary, not to exceed $500,000
  • Spouse/Domestic Partner Coverage: $50,000
  • Child Coverage: $10,000 or $2,000 (no statement of health required)

Statement of Health

Statement of Health, approved by MetLife, is required for:

  • 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 MetLife under this plan

Continuation Options

MetLife Group Term 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 or convert to an individual policy. Please see the below documents for coverage continuation.

Certificate of Coverage

Met Life Portability Notice

Conversion Notice

MetLife Group Term Life Will Preparation

Employees enrolled in the MetLife Life plan have access to a free will preparation service provided by MetLife/Hyatt Legal Services. Click for more information or to begin the will preparation service.

NCFlex Group Term Life

The NCFlex Group Term Life Insurance is offered to all eligible state employees through the NCFlex program.  This plan is administered by the State of North Carolina in conjunction with VOYA Financial.  It provides death benefits to employee-designated beneficiaries.  This plan provides coverage for employees, spouses and children up to age 26.  Deductions for this plan are taken on a pre-tax basis if employee-only coverage is elected and taken on an after-tax basis if spouse or child coverage is elected. Rate changes based on age bands change in January of each year and are based on age as of December 31 of the previous year. You may request coverage up to the maximum amount. The amount requested over the guaranteed issue amount is subject to approval by Voya Financial and requires Evidence of Insurability (EOI)

Coverage Amounts

  • Employee Coverage:  $20,000 up to $ 500,000 in $10,000 increments.
  • Spouse Coverage: $10,000 up to $500,000 in $10,000 increments (may not exceed the employee’s elected amount).
  • Child Coverage: $10,000 or $5,000
    • All eligible dependent children are covered under one plan at the same premium amount.

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 EOI. During annual enrollment those already enrolled in NCFlex Life Insurance may increase Employee and Spouse coverage on a guaranteed issue basis by $10,000 or $20,000 up to the guaranteed issue amount.

  • Employee Coverage: $200,000
  • Spouse Coverage: $50,000
  • Child Coverage: $10,000 or $5,000 (no EOI required)

Evidence of Insurability (EOI)

Evidence of Insurability (EOI), approved by Voya Financial, is required for:

  • Coverage elections greater than the guaranteed issue amounts
  • Applicants previously denied coverage by Voya Financial under this plan

Continuation Options

NC Flex Group Term 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 or convert to an individual policy. Please see the below documents for coverage continuation.

Continuation Notice

Additional Group Term Life Benefits

  • Disability Waiver of Premium If you become totally disabled prior to age 60 the life insurance premium is waived. This includes spouse and
    child(ren) coverage.
  • Funeral Planning and Concierge Services: Allows you to contact professionals who can help with funeral planning for yourself and eligible
    family members.
  • Accelerated Death Benefit: You and your spouse may be eligible to receive 50% of the Group Term Life benefit, up to a maximum of $250,000,
    while living if you are:

    • Diagnosed with a terminal illness and have fewer than six months to live.
    • Diagnosed with a condition requiring continuous confinement.

For more information on this plan, please visit the NCFlex Group Term Life Insurance Website.

Premiums

MetLife Group Term Life Insurance

NCFlex Group Term Life

Age of Employee, Spouse* or Domestic Partner* Monthly Rates per $1000 of coverage Age of Employee Monthly Rates per $1000 of coverage
0-24 $.038 0-24 $.04
25-29 $.038 25-29 $.05
30-34 $.038 30-34 $.07
35-39 $.043 35-39 $.08
40-44 $.07 40-44 $.09
45-49 $.116 45-49 $.13
50-54 $.195 50-54 $.22
55-59 $.32 55-59 $.40
60-64 $.48 60-64 $.64
65-69* $.933 65-69 $1.27
70-74 $1.514 70-74 $2.06
75-79 $2.06 75+** $2.06
80-84 $2.06
85-89 $2.06
90+ $2.06

*Spouse/domestic partner coverage ends when he/she turns age 70. **If still actively employed at age 75, NCFlex Life coverage is reduced by 50%.

MetLife Child(ren) Monthly Coverage Rates

  • $2,000:   $ .21 (one premium covers all children)
  • $10,000: $1.03 (one premium covers all children)

NCFlex Life Child(ren) Monthly Coverage Rates

  • $5,000:   $ .68 (one premium covers all children)
  • $10,000: $1.36 (one premium covers all children)

Plan Documents

MetLife Group Term Life Insurance

NCFlex Group Term Life Insurance (Voya)