Group Life Insurance: Plan Features
NCPERS offers a supplementary survivor's benefit and insurance program to enhance the financial security of the members of its participating retirement systems. It has paid $105 million in benefits to members over the past 40+ years.
The plan is uniquely designed to augment your retirement system's survivor benefits to maximize the security when it is needed the most. While some members may not need the coverage those who do, may need it badly.
Retirement systems have found that it is better to offer voluntary supplemental benefits, than to increase the survivor benefits that apply to all members.
Benefits for Life
Most group life insurance benefits stop or are reduced at retirement. This plan may be continued for life at retirement.
Because of the mass purchasing power of 85,000 participants, favorable claims experience for more than 40 years, and the support of large reserves, we are confident that the coverage provided for the premium is competetive.