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Group Life Insurance: Facts

  • The Plan is completely voluntary.
  • There are currently more than 85,000 enrollees in the Plan.
  • Eligible members may join within 90 days of hire (or effective date of membership with the retirement system) or at open enrollment.
  • The Plan will pay its benefit in addition to other insurance plans.
  • The member can terminate benefits at any time by stopping the monthly contributions.
  • 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 spouse or domestic partner (as applicable) 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 HealthSmart Benefits Solutions, Inc.
  • 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.
  • If interested in knowing more about the plan for your retirement system contact Bill Robinson at 1-800-628-5691, or email Bill_Robinson@ajg.com.

 

Want to Know More?

To learn more of the history and details of valuable plan, just select one of the links below.
© 2012 National Conference on Public Employee Retirement Systems.
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