What you need to know
Insurance is about protecting the people who are most important to you. It’s about having financial protection — in the event you need it. It’s about taking care of your loved ones should you die. It’s about having peace of mind. PayPal provides you with 100% company-paid life insurance and income protection, so there’s no cost to you.
Life insurance
In the event of your death, life insurance pays a lump-sum payment to your designated beneficiaries in the amount of 4x your gross basic annual salary.
Income protection insurance
Income protection insurance pays you a benefit if you’re ill or injured and, as a result, cannot perform the material and substantial duties of your normal occupation, nor any other job, within or outside of PayPal.
The benefit replaces 75% of your gross base salary (less ESA and WRAC), up to a maximum salary of £144,000, less base single persons’ state incapacity benefit.
Eligibility and enrolling
You’re automatically enrolled in life insurance and income protection from day one.
Choosing your beneficiary(ies)
To choose your beneficiaries, fill out the beneficiary form in the HR HUB.