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Group Life Insurance

MetLife Group 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.

The plan offers insurance coverage in multiples of your salary. The maximum coverage is seven times your salary, not to exceed $1,000,000. You can elect benefits of one to three times your annual salary, up to a maximum of $500,000 with no evidence of insurability. To elect four, five, six or seven times your annual salary, you are required to complete a Statement of Health form, which will be reviewed by MetLife. The cost of life insurance you elect will be determined by your attained age and salary as of each Dec. 31 and will be equal to the amount elected (up to seven times your salary, not to exceed $1,000,000). 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. You may cover your spouse or domestic partner under this program in incremental amounts between $10,000 and $100,000. Your spouse/domestic partner’s coverage cannot exceed your elected coverage under this program. Dependent child(ren) coverage is also provided under this program at $10,000 per child. For more information on rates, riders and plan specifics please review the MetLife Plan Summary and Rates or the Certificate Rider.

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 (up to age 70) and dependent children between 14 days and 26 years old.

Will Preparation & Estate Resolution Services

If you enroll in the MetLife Supplemental Life Insurance plan, you and your spouse/domestic partner may take advantage of a Will Preparation Service. Employees can call Hyatt Legal (800-821-6400) for information and assistance in locating a participating attorney. Please provide Group Access #102056. For more information about the Will Preparation Service, please click here.

In addition to the Will Preparation Service, the Metlife Estate Resolution Services (ERS) is a benefit included with your MetLife coverage. ERS provides valuable probate services offered by Hyatt Legal Plans at no additional cost to you. Executors or administrators of the estates of both employees and their spouses/domestic partners have no attorney’s fees, co-payments or claim forms to complete when a Hyatt Legal Plans attorney is used to perform the following services:
• Telephone and face-to-face office consultations to discuss matters related to probating the estate;
• Preparation of documents and representation at court proceedings needed to transfer the probate assets from the deceased’s estate to the heirs;
• The completion of correspondence necessary to transfer non-probate assets such as proceeds from insurance policies, joint bank accounts, stock accounts or a house and;
• Associated tax filings.

MetLife has enhanced this benefit to provide that same legal assistance to settle the estates of both the employee and the employee’s spouse/domestic partner. This means that employees who are responsible for settling their spouses’/domestic partners’ estates will be able to take advantage of this legal assistance. This valuable benefit is included in the employee’s Supplemental Term Life insurance, and the spouse/domestic partner does not have to be insured under the group plan. To utilize these services, call Hyatt Legal at 800-821-6400 and reference Group Access #102056.

Accelerated Benefit Option (APO)

MetLife offers an ABO provision for employees and spouses on Group Term Life insurance. Under this provision, plan participants diagnosed with an illness which limits their life expectancy (usually 12 months) may elect to receive up to 80% of their life insurance benefit. In current state, the customer and employee remit premiums based upon the reduced face amount of life insurance following the payment of an ABO claim.

Enhanced features which will go into production 11-23-2014 are:

  • Forgiveness of future premiums: The customer and employee will no longer have to remit future premium on the reduced face amount(s) following an ABO payment.
  • Continued Protection (Waiver of Premium): If the customer has this Disability provision as part of their Term Life plan, once the ABO claim is paid the Waiting Period is automatically satisfied.
  • Rate impact: No impact to the customer.

Continuing your MetLife Life Insurance Plan

MetLife will mail a packet to your home address outlining your options when you leave the University. If you do not receive a packet within 31 days from your termination date, you can contact MetLife directly at 1-877-275-6387 for information on conversion or portability. Understanding the difference between conversion and portability can be difficult, so view this MetLife Conversion and Portability Chart.

NCFlex – VOYA Group Term Life Insurance

NCFlex is offering Voluntary Group Term Life Insurance administered by VOYA and underwritten by ReliaStar Life Insurance Company. Voluntary Group Term Life Insurance pays a benefit to your beneficiary(ies) if you die while covered under the policy. Please note that this is strictly a life insurance policy that provides a benefit if you die. There is no accumulated cash value.

Coverage Options

  • Employee & Spouse $20,000 to a maximum of $500,000 in $10,000 increments (spouse coverage cannot exceed 100% of employee’s elected amount)
  • Child(ren) $5,000 or $10,000

**Employee must be enrolled to cover spouse/child(ren).

You can elect life insurance coverage in increments of $10,000. A minimum of $20,000 is available, up to a maximum of $500,000 in coverage. Your coverage amount may not exceed five times your base annual earnings. If you enroll in this plan the first time it is offered to you, you may elect coverage up to $100,000 without providing Evidence of Insurability (EOI). If you elect coverage over $100,000, or decide to enroll at a later time, you will need to submit Evidence of Insurability, which will be reviewed by ING.

All permanent part-time (20-29 hours per week) and full-time (30 or more hours per week) employees can elect coverage. For details on NCFlex group term life insurance coverage and benefits, refer to the NCFlex Benefits Highlights.