Basic life insurance provided by your employer is a good employee benefit, but the amount of coverage may not cover your obligations if you were to suddenly pass away.
Voluntary Group Term Life insurance policy issues a cash benefit to your designated beneficiary in the event of your passing. This money can be used toward anything from final costs to paying off any remaining debts; like your mortgage, car loans or student loans.
It is the most affordable form of life insurance and is typically available to you, your spouse and dependent children.
**NEW CARRIER** You can elect Life insurance for your child(ren) in increments of $10,000 up to a maximum of $20,000, not to exceed 100% of Employee Life coverage. Child Life is a guaranteed issue, no Evidence of Insurability Form is required. If both you and your spouse work for PAISD, only one of you may carry coverage on your dependent child(ren). Dependent children are eligible for coverage until they reach their 26th birthday.
**NOTE** Children from live birth to 14 days of age the benefit is $500."