Basic Life Insurance means life insurance provided to an Eligible Employee under a plan sponsored by the employee’s Company equal to 1 (or 1.5) times the employee’s "Base Pay" as defined under the life insurance plan in which the Eligible Employee participates.
Usually, any employee may participate in the group employer provided life insurance plan.
And, individual employees may be able to purchase additional increments of life insurance out of their own pocket, if they need more coverage.
Learn more about how basic term life insurance works.
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