Optional Employee Life Insurance
*All detailed information of this optional insurance can be found in the life insurance booklet for your benefit group
Optional Employee Life Insurance is available to supplement the employee Basic Group Life Insurance. It can be purchased in Multiples of $10,000, as you elect, up to a maximum benefit of $200,000. Rates are provided below.
If you wish to enroll in this optional life insurance, you are automatically approved for $50,000 in coverage within 30 days of your start date. Any amount of coverage more than $50,000 will require a Statement of Health form to be completed and approved by Sun Life. Any amount of coverage requested after 30 days of your start date will require a Statement of Health form to be completed by Sun Life (HR will provide you with the Health Statement form if applicable).
Termination of Insurance
Your insurance ends on the earliest of:
- the date you attain age 70,
- the date your Termination of Employment occurs,
- the end of the period for which premium is paid for your insurance,
- the date you retire,
- the date the group policy is no longer in force.
Costs
Use the chart below to get an idea of the monthly costs per $10,000. Cost includes 8% PST.
| Age | Male | Female | ||
|---|---|---|---|---|
| Smoker | Non-Smoker | Smoker | Non-Smoker | |
| under 24 | $ 0.46 | $ 0.19 | $ 0.19 | $ 0.13 |
| 25-34 | $ 0.54 | $ 0.26 | $ 0.30 | $ 0.19 |
| 35-39 | $ 0.62 | $ 0.30 | $ 0.38 | $ 0.26 |
| 40-44 | $ 0.84 | $ 0.46 | $ 0.54 | $ 0.30 |
| 45-49 | $ 1.51 | $ 0.69 | $ 0.83 | $ 0.49 |
| 50-54 | $ 2.69 | $ 1.31 | $ 1.38 | $ 0.83 |
| 55-59 | $ 4.48 | $ 2.20 | $ 2.20 | $ 1.31 |
| 60-64 | $ 6.48 | $ 3.24 | $ 3.59 | $ 2.14 |
| 65-69 | $ 9.37 | $ 4.69 | $ 5.65 | $ 3.51 |
*Please note based on the rate table, your premiums will automatically increase pursuant to the age bracket you fall within.
How It Works
If, while insured, you die, Sun Life will pay the amount of your life insurance to the last legally nominated beneficiary as filed. In the absence of a beneficiary nomination, payment will be made to your estate. All nominations made by you are revocable unless you otherwise stipulate.
To be eligible for the non-smoker rates, you must not have used tobacco products in the past 12 months. If you do not respond truthfully to this question, Sun Life may deny payment of the optional insurance in the event of your death. If you are a smoker but quit, you may complete a Supplementary Declaration re Smoking Habits and be eligible for the non-smoker rates.
Effective Dates of Coverage
Your coverage begins on the date your application is approved.
Disability Benefit
If you become totally disabled* while insured and before the 1st day of August following your 65th birthday or your earlier retirement, and your total disability continues for an uninterrupted period of 17 weeks, your life insurance will remain in force during your continued total disability without payment of premium. Any amount of insurance continued is subject to the terms of the group policy.
*totally disabled - you are considered to be totally disabled if you are wholly prevented by illness from performing any work for compensation or profit or from following any gainful occupation.
Conversion
If your insurance ends, you are entitled, during the 31 day conversion period, to purchase an individual life insurance policy from Sun Life under the terms of the Conversion contained in the group policy. No medical examination is required.