On December 3, 2018, North Carolina Mutual Life Insurance Company (“NC Mutual” or “Company”), was placed in Rehabilitation by order of the Superior Court of Wake County, North Carolina, with the consent of the Board of Directors of NC Mutual. Initially the Rehabilitation Order was confidential and sealed by order of the Court. On February 1, 2019, an order was entered by the Superior Court of Wake County to unseal the court file. The Order of Rehabilitation enjoins all persons from instituting or continuing any action at law or in equity or any attachment or execution against NC Mutual.
North Carolina Insurance Commissioner Mike Causey serves as Rehabilitator. The Rehabilitator and his staff believe that it is reasonable to work towards the development of a Plan of Rehabilitation for NC Mutual with the goal of returning NC Mutual to a condition where all contractual claims of policyholders can be honored.
Information is currently being developed to inform you of the status of the Rehabilitator’s efforts concerning NC Mutual. Please be patient and check back frequently as further information is added.
All correspondence should be addressed to:
North Carolina Mutual Life Insurance Company in Rehabilitation
North Carolina Department of Insurance
Financial Analysis and Receivership Division- FARD
1203 Mail Service Center
Raleigh, North Carolina 27699-1203
Or email at: NCMutual@ncdoi.gov.
The following documents relate to North Carolina Mutual Life Insurance Company in Rehabilitation:
- Notice to NC Mutual Policyholders (Februrary 15, 2019)
- Consent Order of Rehabilitation (PDF)
- Order for Confidentiality and Sealing Court File (PDF)
- Order Rescinding Confidentiality (PDF)
- Order Approving Moratorium on Policy Surrenders (PDF)
- Request for Hardship Withdrawal (PDF)
- Frequently Asked Questions (PDF)