Home Health & Welfare Life Insurance Voluntary Life Insurance

NC State Voluntary Term Life Insurance

MET Life Insurance (Supplementary)

Permanent employees who work at least 20 hours or more per week for 9 or more months per year are eligible to purchase

• Group Life Insurance.  This plan allows employees to choose 1, 2, 3, 4, 5 X their annual salary up to a maximum of $500,000 as the benefit amount.  This insurance protection is economical and offered to spouses and children of enrolled employees as well.
• New employees who apply within 30 days of hire may enroll for an amount up to and including 3 times their annual salary (or to a maximum of $250,000, whichever is less), enroll their spouse for up $50,000, and enroll any eligible children for up to $10,000 without submitting evidence of insurability.
• The plan also offers continuation privileges after termination or retirement.

Rate Chart (Employee/ Spouse Life Rates/ $1,000 /Mo.)

• To calculate monthly premiums for employee: take annual salary, multiply by salary multiple desired (1, 2, 3, 4, 5), round up to the next $1,000 and divide by $1,000.  Multiply answer by appropriate rate in chart.



• To calculate monthly premiums for Spouse: take coverage amount and divide by $1,000. Multiply answer by appropriate rate in chart. Spouses coverage cannot exceed employee's coverage and premiums are calculated using the employee’s age.
  
• Eligible children may be covered for $2000 ($.21/month or $10,000) ($1.03/per month).