Basic life insurance

You pay the full cost of the Basic Life Insurance. If you are receiving Long term disability benefits, the University covers the full cost. Employee premiums are as follows

• Employee life insurance: You pay $0.135 monthly for each $1,000 of coverage.
• Dependent life insurance: You pay a flat monthly premium of $2.618.
• The above premiums do not include applicable Retail Sales Tax (RST) based on the province of residence (in ON, QC, and MB).

Employee life insurance

• You are insured for two times your annual earnings, to a maximum of $300,000.
• In the event of your death, the benefit will be paid to your designated beneficiary or your estate if no such designation is made.

Dependent life insurance

• Your spouse is insured for $10,000.
• Your dependent children are insured for $5,000 per child.
• You are the beneficiary of your dependent life insurance.

If you are receiving long term disability benefits, your coverage will be the amount in effect on the date of your disability.

If you become disabled and begin receiving Sick leave benefits (short term disability), your coverage under the Basic life insurance plan will continue as though you were at work; you will continue to pay any required premiums. If you begin receiving Long term disability benefits, your coverage will be maintained at no cost to you for as long as you are eligible to receive long term disability benefits, until you recover, until you reach age 65 or until you die, whichever occurs first.