Life Insurance

Basic Life Insurance

  • Available to Benefits-eligible employees (pages 46-51)
  • Term insurance has no cash or loan value
  • Policy doubles in cases of accidental death
  • Enrollment period is the month of hire.
  • An employee may enroll for the basic life insurance policy only, even if not enrolled for medical insurance
  • A statement of health form to PEIA is required for approval of insurance coverage after the initial enrollment period

How to enroll in Basic Life Insurance

Optional Life Insurance

  • Available to Benefits-eligible employees (pages 46-51)
  • There are 18 options available by the employee’s age.
  • An employee may choose optional life insurance during the month of employment.
  • PEIA offers up to $500,000 of optional life insurance which is also decreasing term coverage.
  • However, if an employee chooses more than $100,000 of coverage, he or she will be required to complete an Evidence of Insurability Application form.
  • Active employees may increase their optional life insurance at any time by submitting an Evidence of Insurability form and being approved by the life insurance carrier.
  • This is term insurance that has no cash or loan value.
  • Premiums, which are based on the amount of coverage selected, the age of the employee, and tobacco use status, are paid by the employee. Tobacco-free rates are available to those who submit an affidavit stating that the policyholder does not use tobacco.

How to enroll in Optional Life Insurance

Dependent Life Insurance

  • Available for eligible spouse and dependent children.
  • There are five plans available that range from $5,000 to $40,000 for a spouse and $2,000 to $15,000 for each eligible child.
  • The regular enrollment period is the month of hire.
  • Premiums are paid by the employee.

How to enroll in Dependent Life Insurance

  • For new employees or existing employees new to PEIA, you can enroll online through the Manage My Benefits link.
  • For employees who have had PEIA in the past, you will use the paper form.