Protect What You Love Most About Life. Your Family.
No one can predict the future and life can throw some unexpected twists and turns your way, that impact you and your family. When it comes to protecting the financial security of your loved ones, nothing is more important than planning ahead. 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. That is why the PEF Membership Benefits Program sponsors Group Term Life Insurance from Sun Life.
Group Term Life Insurance Features
You may be eligible for Group Term Life as an active, dues-paying member of PEF. 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.
How it works
With Group Term Life insurance, your loved ones will receive a payment based on the coverage you have upon your death.
As a PEF member, you have the opportunity to choose the coverage that best fits your needs.
- Your earnings are rounded to the next higher $1,000 (if not already a multiple of $1,000) based on your current earnings and up to a maximum of $600,000.
- 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.
Cost of coverage for a PEF member
- The cost for coverage is based on the amount of coverage you choose, your attained age, and a bi-weekly rate.
- Rates are adjusted as you enter a new age bracket.
- Rates and/or benefits may be changed on a class basis.
Bi-weekly rate per $1,000:
New age bracket adjustment example:
Spouse/domestic partner coverage
You can choose spouse/domestic partner coverage in the coverage amounts provided below:
Cost of coverage for a spouse/domestic partner
- The cost for spouse/domestic partner coverage is based on the amount of coverage you choose, the member’s attained age, and a flat bi-weekly rate.
- Rates and/or benefits may be changed on a class basis. Rates increase as the member enters each new age category.
- The spouse/domestic partner coverage amount cannot be more than 100% of the member’s coverage amount. A domestic partner is an individual with whom you execute a domestic partner affidavit to establish eligibility. This must be filed with and approved by PEF MBP prior to coverage becoming effective.
Dependent children coverage
Coverage for dependent children is $15,000 per child. You may apply for this coverage once you are covered. Available for married and unmarried members.
Important points to consider
- You should consider life insurance if your income is needed to cover household or day-to-day expenses (e.g., car payments or childcare) or if you share responsibility for a significant debt (e.g., mortgage, rent, or student loans with someone else).
- If you enroll when you are first eligible, you do not have to provide proof of good health.¹
- The coverage allows you to apply to receive a portion of your death benefit to help cover medical and living expenses if you become terminally ill.
- The policy includes an equal amount of AD&D (Accidental Death & Dismemberment) insurance, which provides a benefit if you or a covered dependent suffers a covered accidental injury or dies from a covered accident.
- Your cost depends on your age, the amount of insurance, and a bi-weekly flat premium rate that changes as you get older.
How to Enroll During the Modified Open Enrollment
You can enroll between September 1 and October 31, 2020, during the special modified open enrollment with no medical questions asked up to $20,000 or one times your basic annual earnings, the amount approved for this open enrollment.¹ If you are already enrolled, you can increase your coverage by one level, up to 5 times your basic annual earnings or a maximum of $600,000. If you decide you want to apply for a higher coverage amount than offered during the modified open enrollment, you must complete an Evidence of Insurability (EOI) form, also referred to as a medical questionnaire.
How to Enroll Outside the Modified Open Enrollment Period
For new employees on the job less than 120 days
If you are a new employee (on the job less than 120 days) in the PS&T (Professional, Scientific & Technical) unit, you may enroll with no medical questions asked.¹ If we do not receive your insurance application(s) within 120 days of your date of hire with the PS&T unit, you can still enroll in the insurances, but you will also need to complete an Evidence of Insurability (EOI) form.
Current, active employees (on the job more than 120 days) in the PS&T unit
If on the job more than 120 days, you must complete the group term life insurance application as well as an Evidence of Insurability (EOI) form.
You must join PEF before you can enroll in any one or more insurances.
When an Evidence of Insurability Form (EOI) is Needed
- If you did not elect insurance in your first 120 days of employment with the PS&T unit.
- If you are increasing coverage on an existing insurance policy.
- If a PEF MBP representative requests that you complete and EOI form.
If you are downloading and completing the insurance enrollment application and the medical questionnaire, return both to PEF MBP at:
10 Airline Drive
Albany, NY 12205
For more information: Call the PEF Membership Benefits Program at (518) 785-1900, ext. 243, opt. 2, or (800) 342-4306, ext. 243, opt. 2. You may also email the PEF Membership Benefits Program.
Footnotes, Additional Details & DisclaimersImportant: The above information is intended to provide an explanation of the general purposes of the insurance described, but it does not form a part of the group insurance policy. If any of the terms of the brochure or certificate differ from the group insurance policy, the policy will govern. Limitations and Exclusions apply. Please see the brochure for additional information.
¹If the amount you apply for exceeds the Guaranteed Issue amount or if you decline coverage during your initial eligibility period and want to elect coverage or increase coverage at a later date, you are required to complete and submit an Evidence of Insurability application, which must be approved by Sun Life prior to coverage taking effect.
For NY consumers: Receipt of Accelerated Death Benefits may affect eligibility for public assistance programs and may be taxable.
²Subject to policy terms, conversion is available when coverage terminates or reduces, and portability is available when employment terminates. Coverage is subject to state variations. If portability is not available in your state, continuation may be available. Refer to your Certificate for specific conditions.
This product web page is intended to provide an overview of the benefits available from the PEF Membership Benefits Program and is not a complete description of plan provisions. Review of this product web page does not certify eligibility for benefits under this plan. For complete plan details, including limitations and exclusions that may affect benefits, please refer to your certificate.
This information is intended to provide an overview of the benefits available from your employer and is not a complete description of plan provisions. The rates shown include administrative fees. Receipt of this flyer does not certify eligibility for benefits under this plan. For complete plan details, please refer to your certificate.
The group policy provides disability income insurance only. It does not provide basic hospital, basic medical, or major medical insurance as defined by the New York State Department of Financial Services.
The group policy contains limitations and exclusions that may affect benefits. Please see the certificate or ask your benefits administrator for information on Elimination Periods, Waiting Periods, and Pre-Existing Conditions limitations. Group life and disability insurance policies are underwritten by Sun Life and Health Insurance Company (U.S.) (Lansing, MI) under Policy Form Series 13-GP-LH-01, 13-LF-C-01, 13-GPPORT-P-01, 13-LFPort-C-01, 13-ADD-C-01, 13-LTD-C-01, 13-LTD-P-01, 13-STD-C-01, and 06P-NY-DBL.
©2020 Sun Life Assurance Company of Canada, Wellesley Hills, MA 02481. All rights reserved. Sun Life Financial and the globe symbol are registered trademarks of Sun Life Assurance Company of Canada. Visit us at www.sunlife.com/us.
SLPC 26891 1/18 (exp. 5/22)