Group Insurance

Term Life Insurance

Employee term life insurance is a big part of a group plan. Benefits can range from one to five times salary, or can be based on a flat amount. There are some attractive features including generous amounts available without medical evidence. Optional life insurance is available for employees and their spouses for groups of 20 plus lives.

Term Life Insurance
Minimum Amount $10,000
Maximum Amount $500,000
Formula Flat amount or one to five times salary
Reduction 50% at age 65
Termination Age 71
Grandfathering With approval
Optional Life Units of $10,000 to $200,000

Dependant Life Benefits

Dependant life insurance is available for spousal and child coverage.

Dependant Life Benefits
Spouse Amount Units of $5,000 to $25,000
Child Amount 50% of spouse amount
Child Coverage Starts 15th day from birth or from live birth

Accidental Death & Dismemberment Benefits

Accidental Death and Dismemberment benefits (AD&D) is a portion of the employee term life insurance amount. The AD&D benefit includes a surgical reattachment benefit and repatriation of remains in the event of death.

Accidental Death & Dismemberment Benefits
Benefit Amount A portion of employee term life amount
Benefit for Successful Reattachment 50% of dismemberment benefit
Repatriation Provision Provided if greater than 150 km from home
Loss of Use Provision Included