MetLife Term Life Insurance

This program is sponsored by the University of North Carolina at Chapel Hill. Metropolitan Life Insurance Company is the plan administrator for the University.

This is a group term life insurance program that can help provide income security for you and your family while you are employed by the University.

All permanent part-time (20-29 hours per week) and full-time (30-40 hours per week) employees can elect MetLife benefits. You can elect coverage for your spouse or domestic partner and dependent children between 14 days and 19 years old (or 26 years if a full-time student).

Coverage: The plan offers insurance coverage in multiples of your salary. The maximum coverage is five times salary, not to exceed $500,000. You can elect benefits of one to three times your annual salary with no evidence of insurability. To elect four or five times your annual salary, you are required to complete a Statement of Health form, which will be reviewed by MetLife.

If you elect coverage for yourself, you also have the opportunity to purchase spouse/domestic partner and dependent child(ren) life insurance coverage. Note that coverage is available for a spouse/domestic partner up to age 70 and that children must be at least 14 days old; under 19 years and unmarried; or a full-time student, unmarried and under 26 years of age.

Premiums: Premiums for this plan are paid solely through employee contribution as an after-tax payroll deduction. Premiums increase with age and are calculated on a rate per thousand dollar basis. The amount of life insurance will be determined by your attained age and salary as of each Dec. 31 and will be equal to the amount elected (up to five times your salary, not to exceed $500,000). Upon the attainment of age 65, your life benefit, and the corresponding premium, is reduced to 65 percent of the value elected and at age 70 will be reduced to 50 percent of the value elected:

Age	Rate/$1000
Under 35	0.05
35-39	0.06
40-44	0.08
45-49	0.14
50-54	0.23
55-59	0.39
60-64	0.66
65-69	1.23
70+	2.06
Spouse/Domestic Partner ($10,000)	2.66
Child(ren) ($8000)	0.54

If you are paid on a monthly basis, the full monthly contribution is deducted from each paycheck. If you are paid on a biweekly basis, half of your monthly contribution is deducted from the first two paychecks of the month.

You must designate your beneficiary upon enrollment, and may change the designation at any time, by submitting a Beneficiary Change Form. If you elect spouse/domestic partner and/or dependent children coverage, then you are the designated beneficiary for your spouse/domestic partner and children.

You must enroll within 30 days of your hire date or a qualifying family status change, or during annual enrollment. You will be subject to Evidence of Insurability if you are a late enrollee.

If you have questions about the benefits offered through this plan, please contact your department's Benefit Specialist.

Benefits Services in the Office of Human Resources is responsible for reviewing and revising as needed the content of this page.

The information contained in this website is not a contract and is subject to change. It should be understood that explanations in this summary cannot alter, modify or otherwise change the controlling legal documents or general statutes in any way, nor can any right accrue by reason of any inclusion or omission of any statement in this presentation. The most current information will always be found at the benefit carrier's home page. The Office of Human Resources designs these pages to be as current as possible; however, the benefit information provided herein is always subject to change.