What you need to know
PayPal provides you with life and accidental death and dismemberment (AD&D) insurance at no additional cost. And you’re automatically enrolled in them.
It’s 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 (and even yourself) should you become severely injured or die. It’s about having peace of mind.
Basic life and AD&D cost you nothing
PayPal covers the cost of these benefits, and you’re automatically enrolled.
You can also purchase optional life and AD&D insurance for yourself and your eligible dependents.
Basic Life Insurance
Twice your annual earnings (including commissions), up to a maximum of $2 million.*
Company-provided life insurance, Group Term Life (GTL), is calculated based on your current salary and is a taxable benefit (referred to as imputed income*). Any changes to your base salary will auto adjust the GTL calculation for tax purposes.
*Imputed income is the term the I.R.S. applies to the value of any benefit or service that should be considered income for the purposes of calculating your federal taxes. The value of employer provided life insurance coverage greater than $50,000 falls into this category. The value of the coverage is the amount the IRS assumes you would have to pay to purchase a policy in that amount in the private market. This value is based on your age and the amount of coverage you have. Imputed income is added to your pay for tax purposes, and the additional taxes that you owe are deducted from your paycheck.
Optional Life Insurance
One to six times your annual earnings, up to a maximum of $2 million. You pay for coverage post-tax from your paycheck. What you pay is based on the amount you select and whether you use tobacco. Visit YBR (@Work | Log In) for contribution amounts.
Keep in mind that evidence of insurability (EOI) is required if you select coverage that is three times your salary or $500,000 (whichever is less). EOI is also required during Annual Enrollment if you newly elect optional life insurance or increase coverage by more than one level. It requires you to fill out a form and submit it to the insurer to determine if you will be insured.
Spouse Optional Life Insurance
Up to $250,000 or 50% of your own coverage, whichever is less.
EOI is required if you choose to enroll in coverage of $75,000 or more.
You pay for coverage post-tax from your paycheck. What you pay is based on the amount you select and whether you use tobacco.
Child Optional Life Insurance
Up to $25,000 per child. You pay for coverage post-tax from your paycheck.
Business Travel Accident (BTA) Insurance
If you and your eligible dependents are traveling on company business, you’re covered should something happen. Business Travel Accident Insurance and Emergency Travel Assistance coverage are provided automatically at no cost to you.
- Accidental death insurance of up to 5 times your salary ($1 million limit)
- Insurance for medical expenses incurred outside your home country, up to $200,000 per person per trip with a $50 deductible for each incident
- Reimbursement for lost or stolen personal items, up to $500 per item, and limited to $1,000 per incident
- Reimbursement for lost or stolen cash or cash equivalents, up to $500 per item, and limited to $1,000 per incident
See the business travel plan overview on the Bridge. This page is only accessible within the PayPal firewall.
Accidental Death and Dismemberment (AD&D)
You pay nothing for Basic AD&D coverage. If you want additional coverage, you will pay a premium that varies based on how much coverage you select.
Basic AD&D Insurance
Company-provided benefits of twice your annual earnings, up to a max of $2 million.
Optional employee only or employee and family AD&D Insurance
One to six times your annual earnings, up to a max of $2 million.