What is NEBA?
The NASA EMPLOYEES BENEFIT ASSOCIATION (NEBA) is an employee operated association established in 1952 that exists for the sole purpose of providing low cost, high quality life insurance for you, the NASA employee or military detailee. Since NEBA is a not-for-profit organization which is self-funded and is controlled by your fellow NASA employees, you receive the maximum amount of coverage for your premium dollar.
NEBA pre-dates the Federal government’s own Federal Employees' Group Life Insurance (FEGLI) program.
Metlife currently administers "basic" group life insurance policies underwritten and funded by NEBA. NEBA "optional" insurance is underwritten and administered by Metlife.
Rate tables and cost comparison factors are listed listed on the NEBA website.
The rule of thumb for life insurance coverage is 5 times your annual salary.
Should I Have NEBA or FEGLI Insurance...or Both ?
Both NEBA and FEGLI coverage are similar in most ways. Our experience is that support and payment to beneficiaries has been excellent under both programs. For most employees who wish to maximize coverage with the least cost, the most effective approach is to elect basic coverage under both NEBA and FEGLI rather than basic plus optional coverage under either plan.
You may convert both FEGLI and NEBA policies into individual (non-group) policies when you retire or separate from NASA.
A note of caution…
If you plan to carry FEGLI insurance into retirement, you generally must have been enrolled for the five years immediately before your retirement. |
What are the Benefits of NEBA vs. FEGLI Insurance Coverage?
With NEBA coverage, you receive most of the same benefits available under FEGLI.. Plus
- You receive more insurance coverage for less money during the years you’re normally raising a family.
- The better the NEBA plan performs -- the lower your rates become. NEBA rates are set by NASA employees based upon industry standards using the NASA workforce claims experience...rather than the government-wide workforce profile used by FEGLI.
- You may receive periodic premium rebates based upon plan performance.
- Your payments are made easily and automatically through biweekly payroll deduction.
- Under the Accelerated Life Insurance provision, you may receive up to 50 percent of your benefits while guaranteeing that the remainder will be paid to your beneficiaries.
- You receive twice the amount of your basic coverage with Accidental Death and Dismemberment.
- If you’re qualified, you may receive non-smoker rates under the Optional Life Insurance plan. Smoker rates are also available.
- Like FEGLI, NEBA basic life insurance covers flight crews participating in shuttle and aircraft missions.
- You have guaranteed conversion privileges upon your separation from NASA.
- Your dependent children enjoy a guaranteed insurability option at age 23 -- offering up to $10,000 in coverage regardless of their health or occupation.
What Happens toMy LifeInsurance When I Retire?
You may convert your NEBA group policy to an individual policy with the insurance company that administers the NEBA plan. If you wish to carry FEGLI insurance into retirement you must be enrolled in FEGLI for the five years prior to your retirement. See the FEGLI chapter for details.
How and When Can I Sign Up?
Under NEBA, you may sign up at any time by visiting the NEBA website. In some cases, additional medical information may be requested.
Eligibility
All permanent NASA employees and military employees detailed to NASA who are on a reimbursable basis are eligible.
Enrollment
New permanent employees may enroll without proof of insurability within 60 days of employment. Premiums are paid biweekly through payroll deduction. If you choose not to participate, you may later apply online at myBenefits and your application is subject to approval by Metlife.
Coverage Options
Basic Coverage The amount of your basic insurance is based on your annual earnings and cost is based on your age. Accidental death and dismemberment coverage is provided with your basic coverage. Accidental death benefits, often referred to as double indemnity, double the amount of your basic coverage. This coverage includes line-of-duty flying in all types of aircraft (including experimental aircraft), and space vehicles.
Optional Coverage Coverage is in 1/2 salary increments up to 8x's salary (maximum 2 million). The plan offers lower rates for non-smokers.
Optional coverage does not include the accidental death and dismemberment provision that is provided with basic coverage.
Dependents' Coverage
For a modest premium, you may insure your spouse. Dependent children over the age of 14 days and under age 23 are eligible for coverage. A child 14 days to 6 months has $500 of coverage and from 6 months to 19 years has $5,000 coverage. When a dependent child turns 23, the child may convert to $10,000 of permanent, cash value insurance. This insurance is available regardless of the child's health, military status, or occupation at that time if the child has current enrollment in NEBA. Dependent coverage does not include accidental death (double indemnity) and dismemberment provisions.
Conversion Feature
If your employment ends for any reason, including retirement, you have the right to convert your insurance. You have 31 days to convert to an individual policy from Metlife regardless of age or health and without a medical examination. If you have dependent coverage, your family members may also convert their insurance to individual policies, without medical examination.
Living Benefit Option
If you become terminally ill, up to 50% of the face value of your policy may be paid to you prior to your death.
1FEGLI and NEBA Life Insurance Comparison Chart
FEGLI
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NEBA
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1. Coverage will be continued with a transfer to another Federal agency
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1. Coverage will continue with a transfer to another NASA Center. Contact the NEBA office
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2. Coverage will be continued into retirement
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2. Coverage does not continue into retirement, unless it is converted to an individual policy
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3. Coverage may be converted to an individual policy upon separation from Federal service
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3. Coverage may be converted to an individual policy upon separation from NASA
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4. Payroll deductions are made biweekly
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4. Payroll deductions are made biweekly
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Basic
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Basic
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1. Coverage is equal to actual rate of annual basic pay (rounded to next $1,000) plus $2,000
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1. Coverage is equal to actual rate of pay up to $100,000)
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2. Extra benefit for employees under age 45
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2. No extra benefit for employees under age 45
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3. Accidental death and dismemberment coverage
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3. Accidental death and dismemberment coverage
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4. Cost for active employees is based on amount of insurance. The extra benefit for employees under age 45 is no extra cost
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4. Cost is based on age
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Optional
You must elect basic life to be eligible for these options
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Optional
You must elect basic life to be eligible for these options
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1. Option A - Standard
• Coverage is $10,000
• Accidental death and dismemberment coverage
• Cost is based on age
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1. Employees may choose coverage from 1/2 salary up to 8x's salary. increments of $25,000. Employees age 55 through 59 may elect up to $100,000.
2. Maximum 2 Million.
3. Cost is based on age and smoker or nonsmoker rates.
(The nonsmoker rates are lower.)
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2. Option B- Additional
Coverage is equal to one, two, three, four, or five times actual rate of annual basic pay (after basic pay is rounded to next $1,000)
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N/A
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Cost is based on age and amount of insurance
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Coverage may be converted to an individual policy upon separation.
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3. Option C- Family
• Coverage is $5,000 up to $25,000 for spouse and $2,500 to $12,500 for each child under age 22
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Dependent
Based on salary, coverage is $15,000, $20,000, $25,000 or $50,000 and for spouse, and $10,000 for each child from 15 days to 23 years.
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Cost is based on the employee's age
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Cost is based on employee's age
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