Life Insurance summary

This is a summary of the life insurance offered to eligible members of the public service and certain designated groups.

Life insurance under the Public Service Management Insurance Plan

This benefit is offered to employees excluded from collective bargaining and executives of the public service. This summary does not contain all the details nor describe all limits, restrictions or exclusions. Refer to the Public Service Management Insurance Plan Document and the Main Plan Booklet/Executive Plan Booklet for additional details.

Eligibility

  • Optional coverage for:
    • Full-time and part-time employees employed in managerial or confidential positions (i.e. employees excluded from collective bargaining and executives) who are appointed for more than 6 months (part-time employees must work more than 1/3 of the normal work week) or who have completed 6 months of continuous employment
    • Employees who were covered under the PSMIP before being represented by a bargaining agent and who have remained continuously employed since that time
    • Eligible spouse, common-law partner and dependant children of eligible members
  • You must enrol for Basic Life Insurance in order to apply for other types of life or accidental death and dismemberment insurance.

Enrolment and Effective Date

  • To apply for coverage, you must complete an application form (available from your departmental Compensation services or the Public Service Pay Centre).
    • If your completed application is received within 60 days of becoming eligible, coverage takes effect on the eligibility date.
    • If your completed application is received more than 60 days after becoming eligible, evidence of insurability acceptable by the insurer is required and coverage takes effect on the 1st day of the month following receipt of the application by your departmental Compensation services or the Public Service Pay Centre.
  • Evidence of insurability is always required for Supplementary Life Insurance.
  • Provisions for members of the Executive Group

Basic Life Insurance

  • Lump-sum benefit equal to your annual salary rounded to the nearest $1,000
  • Payable to your designated beneficiary(ies) in the event of your death
  • Benefit reduction starting when you reach age 66
  • Lump-sum benefit for members of the Executive Group equal to 2 times annual salary

Supplementary Life Insurance

  • Additional lump-sum benefit equal to your annual salary rounded to the nearest $1,000
  • Payable to your designated beneficiary(ies) in the event of your death

Accidental Death & Dismemberment Insurance

  • Units of $25,000 up to 10 units (members of the Executive Group are covered automatically for 10 units) for maximum coverage of $250,000
  • Payable to your designated beneficiary(ies)
  • Covers death by accidental means (rather than natural causes) and dismemberment, which includes loss of the use of certain body parts (including limbs or eyesight)

Dependants' Insurance -Life and Accidental Death & Dismemberment Insurance

  • Life Insurance:
    • Lump-sum benefit payable to you in the event of your eligible spouse, common-law partner or dependant child's death:
      • Spouse/common-law partner: $5,000
      • Each dependant child: $2,500
  • Accidental Death & Dismemberment Insurance:
    • Lump-sum benefit payable to you in the event of your eligible spouse, common-law partner or dependant child's accidental death or dismemberment
      • Spouse: up to $5,000
      • Each dependent child: up to $2,500

Post-Retirement Life Insurance

  • Available only to members of the Executive Group who retire with an immediate continuing pension under the Public Service Superannuation Act
  • Lump-sum benefit equal to your adjusted final salary at retirement
  • Payable to your designated beneficiary(ies) in the event of your death
  • Coverage reduction of 25% annually to a minimum of 25% in the 4th year of retirement

Cost Sharing/Premiums

  • If you are an excluded employee, you pay 100% of the premiums for Basic, Supplementary, Accidental Death and Dismemberment and Dependants' life insurance
  • If you are an executive, the Government of Canada pays 100% of the premium for Basic, Accidental Death and Dismemberment and Dependants' life insurance and you pay 100% of the premium for Supplementary Life Insurance.
  • If you are an executive, the Government of Canada pays 100% of the premium for Post-Retirement Life Insurance
  • Provisions when receiving disability benefits
  • Provisions when on leave without pay

Coverage ends automatically

  • When your employment terminates
  • When the insured person is no longer eligible
  • Conversion privilege: 31 days coverage extension period during which you can apply for individual, private life insurance policy without evidence of insurability
  • Except Post-Retirement Life Insurance for members of the Executive Group which continues
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