In addition to Howard-provided basic life and AD&D coverage and Supplemental employee, spouse and child life insurance coverage through MetLife, Howard also provides you with access to optional life through New York Life Insurance Company and whole life insurance through North Carolina Mutual.
New York Life Optional Life Insurance Coverage
With the New York Life whole life insurance policy, you can purchase coverage for yourself, your spouse and your eligible children and grandchildren. Coverage is available as follows:
Employee coverage: Eligible for employees up to age 70; up to $150,000 maximum.
Spouse coverage: Eligible for spouses up to age 70; up to $50,000 maximum.
Child and/or grandchild coverage: Eligible for children and grandchildren up to age 25; up to a $25,000 maximum.
You pay the full cost of New York Life optional life insurance coverage. If you leave employment at Howard for another job or retire, you may choose to obtain an individual policy.
Contact New York Life: 1-800-695-4331 or www.newyorklife.com .
North Carolina Mutual — Whole Life Insurance
Whole life insurance up to $150,000 is available through North Carolina Mutual. You can borrow funds from this policy if the case arises, and you do not have to pay the principal back — only the interest. For more information, call 1-800-626-1899.
You pay the full cost of North Carolina Mutual whole life insurance coverage. If you leave employment at Howard for another job or retire, you may choose to obtain an individual policy. Contact North Carolina Mutual: 1-800-626-1899 or www.ncmutuallife.com .