Eligibility and Effective Dates
All PEBB-eligible employees may enroll for life insurance coverage on their dependents.
If you enroll within 60 days of your hire date or date of eligibility, the coverage becomes effective the first of the following month.
If you enroll during Open Enrollment, the coverage becomes effective January 1 of the new plan year.
The rate is $1.29 per month to coverall PEBB eligible dependents, including spouse or domestic partner.
Description of Benefit
This is term life insurance. The beneficiary (the enrolled employee) is the recipient if the covered individual dies while covered under the policy.
In this case that is when 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.
This benefit pays $5,000 on the death of any covered dependent of the active employee. The employee pays the premium.