NCPERS | Group Life Insurance

On December 1, 2006, the Plan had 93,308 enrollees (members/retirees), from 6,100 employer units. Paid claims for 2006 were almost $11 million.
The Plan is completely voluntary. When a retirement system offers the Plan, each employer unit is contacted to make the decision to participate. Once the employer agrees, the member enrollment is conducted. Thereafter, annual open enrollments are conducted.
The Plan will pay its benefit in addition to other insurance plans.
The member can terminate benefits at any time by stopping the payroll deduction.
If the employee ceases to be a member, he or she can convert to a Prudential individual policy within 31 days following termination of insurance. Dependent term life insurance can also be converted.
Benefit checks of $5,000 or more are deposited in a special interest bearing checking account, on which the beneficiary can write checks immediately after the claim is approved.
The Plan is administered by American Administrative Group. They can be contacted at 1-800-525-8056 or email aag_ncpers@aagco.com.
NCPERS sponsors the Plan, but has no role in the administration of the life insurance program, and the benefits are guaranteed solely by Prudential Financial. NCPERS is compensated solely for the use of its name, service marks and mailing lists.
For additional information about claims or coverages, contact the American Administrative Group at 1-800-525-8056.
If interested in knowing more about the plan for your retirement system contact Bill Robinson at 800-628-5691, or email Bill_Robinson@ajg.com.