Your Dependent Life insurance selection must represent your family status: If you have chosen a salary-based option and your annual earnings change for any reason, including a change due to a promotion to a PEF-represented position, your insurance will automatically be adjusted on the next available payroll. Rates and/or benefits may be changed on a class basis.įor example, a member aged 43 interested in $20,000 of coverage would pay:.Rates are adjusted as you enter a new age bracket.The cost for coverage is based on the amount of coverage you choose, your attained age, and a bi-weekly rate. If you are covered for Group Term Life insurance under this plan, you may also apply for dependent coverage for your spouse/domestic partner and dependent children.Your earnings are rounded to the next higher $1,000 (if not already a multiple of $1,000) based on your current earnings, up to a maximum of $600,000.Coverage amountĪs a PEF member, you have the opportunity to choose the coverage that best fits your needs. With Group Term Life insurance, your loved ones will receive a payment based on the coverage you have upon your death.

You may also be eligible for Dependent Life insurance coverage, if you are covered for Life Insurance under this plan, and you meet additional requirements. You may be eligible for Group Term Life as an active, dues-paying member of PEF. Group Term Life Insurance Key Features Eligibility That is why the PEF Membership Benefits Program sponsors Group Term Life Insurance from Sun Life. Group Term Life insurance protects the life you love by securing it for the people most important to you. Group Term Life (GTL) insurance is a great way to provide your loved ones with financial protection when you can’t be there and when they need it most. When it comes to protecting the financial security of your loved ones, nothing is more important than planning ahead.

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