Description of Benefit
This is term life insurance. The beneficiary receives the benefit payment if the covered person dies while covered under the policy. In this case, that is while the employee who purchases the coverage is a PEBB-eligible state employee and premium payments for the coverage are current.
The Standard pays the benefit upon death from any cause, excluding suicide during the first two years of coverage. If the covered individual dies by suicide during the first two years of coverage, The Standard will not pay the benefit but will refund the premiums paid during that period.
This insurance does not accumulate any kind of cash value.
Dependent Life Insurance for Spouse or Domestic Partner and Eligible Children of Active Employees: $5,000. You pay the premiums.