Basic Life Insurance Basic Life Insurance : the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Basic Life Retired prior to 7/1/1987 Volume: $9,000 100% DePauw Paid Notice must be given to Sun Life within 30 days of death Proof must be given to Sun Life within 90 days of death Basic Life Retired on or after 7/1/1987 Volume: $3,500 100% DePauw Paid Notice must be given to Sun Life within 30 days of death Proof must be given to Sun Life within 90 days of death Class 1 Class 2