Home Home Health & Welfare NC Flex Voluntary Group Term Life Insurance

Pre-Tax Term Life Insurance

This pre-tax term life insurance plan is designed to provide financial security for your family in the event of your death. New employees who apply for coverage within 30 days of hire, may enroll for an amount up to $100,000.00 without submitting evidence of insurability. Amounts above $100,000.00 require evidence of insurability and is subject to approval by the plan.

You can elect life insurance coverage in $10,000 increments. A minimum of $20,000 of coverage is available up to a maximum of $500,000. However, coverage may not exceed five times your base annual earnings.

Please note that you may not cover dependents on this plan and the coverage may be taxable according to IRS regulations.

The plan also offers continuation privileges after termination or retirement.

If employees apply for more than $100,000 or if employees decline coverage when first offered to them, then they must complete evidence of insurability (EOI). To submit EOI, complete the online form, select the "submit" button and mail the printed form to the address on the form.

Frequently Asked Questions (FAQ)

Comparison with NC State Voluntary Term Life Insurance

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

To calculate monthly premiums: determine coverage amount and then multiply by the appropriate rate listed in chart above.

For additional information on this plan, please review www.ncflex.org