The UNC System partners with Securian Financial to provide a consolidated life insurance plan that offers coverage for employees, spouses and dependent children. Learn more about the coverage options available to you, special plan features and services and costs for coverage. You can also calculate your estimated monthly premium payment, which will be conveniently deducted from your paycheck.
We understand that the mapping process may have seemed a bit confusing during Open Enrollment, and you may not have been exactly sure what your mapped coverage and the corresponding premiums would look like in 2023. Now that everything has been mapped and 2023 premiums have taken effect, we want to give you an opportunity to make any adjustments (for example, reduce your coverage if it’s more coverage or a higher premium than you wanted).
What You Need to Do
- Review your current life insurance elections and premiums that are being deducted to ensure that no adjustments are needed.
- If everything looks good, you do not need to take action.
- However, if you do see something you’d like to change, you must take action during the Special Adjustment Period (February 1-17, 2023). If you do not make changes during the Special Adjustment Period, you will not be able to make changes to your UNC life insurance coverage until the next Open Enrollment window unless you experience a change in family status or other qualifying event.
For more details, reference this memo. If you have questions about the special adjustment period, please contact Jen Tronzo at Benefits@uncc.edu. If you have questions about using the enrollment platform, contact the University of North Carolina Service Center at 833-862-1490
Permanent, non-temporary employees working more than 20 hours a week are eligible for this benefit.
|Employee voluntary life||1-10x your base annual salary*||
|Spouse/Domestic Partner voluntary life||
Option 1: $10,000
Option 2: Increments of $25,000
|Child voluntary life||$10,000||
Eligible employees may elect life insurance coverage for themselves and their spouse up to the Guaranteed Issue without providing Evidence of Insurability (EOI). Guaranteed Issue refers to the amount of coverage that is guaranteed to be issued regardless of health status.
Monthly Cost of Coverage
The following chart outlines the monthly cost of coverage for you as the employee and your spouse per $1,000 increments based on age. Please note, premiums will be deducted on a semi-monthly basis, after-tax basis.
Voluntary child life: One premium provides coverage for all eligible children
Please note, rates are subject to change.
Here's how to calculate your monthly premium:
|Salary multiple selected||$_______|
|X Salary (rounded to next higher $1,000)||$_______|
|= Total Coverage||$_______|
|X Your rate (based on your age)||$_______|
|= Monthly Premium||$_______|
- Eligible employees should evaluate their life insurance needs, and compare plans to make informed decisions about coverage levels and which plan(s) may be best for their situation.
- If you would like to enroll for coverage under the UNC System Life Insurance Plan, you must make your elections during the annual open enrollment period or within 31 days of being eligible.
- Be sure to gather all of your documentation in preparation for enrollment such as beneficiary and dependent information (date of birth, Social Security Number). Supporting documentation may need to be submitted for dependents such as a birth certificate and marriage license.
- To enroll, you will need to log into the new benefits administration platform for UNC System benefits and make your elections within the designated enrollment period.
- Reference the Step-by-Step Enrollment Guide for more details.
- Make sure to finish your enrollment. Elections are not recorded in the system until you save, accept and then get confirmation.
- All benefit-eligible employees will be automatically enrolled in a maximum limit of $10,000 Core AD&D insurance at no cost to the employee. The UNC System pays the full cost of this coverage. (Please note that the amount of your coverage will be reduced after you reach age 75.)
- You must make a beneficiary designation in the UNC System Benefits (Empyrean) platform.
Need guidance on how much life insurance you may need? Use Securian Financial's online benefits-decision tool, Benefit Scout®. By answering a few simple questions about your family and finances, you can determine the coverage that meets your needs. lifebenefits.com/UNCS
UNC System Resources
- UNC System Life Insurance Summary Including Rates Effective 1.1.2023
- How To Update Beneficiaries Online
- UNC System Employee Step-by-Step Enrollment Guide for COMPASS
- Estate and Will Preparation Flyer
- Lifestyle Benefits Flyer
- LIFE-Travel Assistance
- Travel Assistance Additional Information
- VRL- Voluntary Retiree Life
- Conversion vs. Portability
Plan and Legal Documents
- Retiree Coverage Flyer
- Retiree Application for GI of $25,000
- Retiree EOI Application of Coverage in Excess of $25,000
If you have questions about enrolling online, contact the University of North Carolina Service Center at 833-862-1490. For questions about coverage and plan details, contact the Benefits Office at firstname.lastname@example.org or 704-687-8134.