Public Service Management Insurance Plan (PSMIP) Premium Rates

2023

Monthly PSMIP Premium Rates effective April 1, 2023

A premium reinstatement & 15% rate decrease was applied to the following benefit:

  1. Main Plan – Basic Life

A 12-month premium holiday is in effect for the following benefits:

  1. Main Plan - Supplementary Life
  2. Main Plan - Accidental Death & Dismemberment
  3. Main Plan - Dependant Coverages
  4. Executive Plan - Basic Life
  5. Executive Plan - AD&D
  6. Executive Plan - Dependant Coverages
  7. Members of Parliament Plan - Basic Life
  8. Members of Parliament Plan - Accidental Death & Dismemberment

Main Plan (employee-paid coverage)

Basic Life
(Rates per $1,000 of insured salary)
Age Group Male Female
Under 31 $0.0255 $0.0170
31-35 $0.0255 $0.0255
36-40 $0.0425 $0.0255
41-45 $0.0680 $0.0425
46-50 $0.1190 $0.0850
51-55 $0.1870 $0.1360
56-60 $0.2975 $0.2125
61-65 $0.4930 $0.3400
66-70 $0.5695 $0.4250
71-75 $0.2635 $0.2125
76-80 $0.1870 $0.1530
81 and over $0.2805 $0.2295
Supplementary Life
(Rates per $1,000 of insured salary) (Premium Rate Holiday)
Age Group Male Female
Under 31 $0.00 $0.00
31-35 $0.00 $0.00
36-40 $0.00 $0.00
41-45 $0.00 $0.00
46-50 $0.00 $0.00
51-55 $0.00 $0.00
56-60 $0.00 $0.00
61-65 $0.00 $0.00
66-70 $0.00 $0.00
71-75 $0.00 $0.00
76-80 $0.00 $0.00
81 and over $0.00 $0.00

Dependant coverage

  1. Children Only (Premium Rate Holiday)
  2. Spouse and Children or Spouse only (Premium Rate Holiday)
Age Group Male Female
Under 26 $0.00 $0.00
26-30 $0.00 $0.00
31-35 $0.00 $0.00
36-40 $0.00 $0.00
41-45 $0.00 $0.00
46-50 $0.00 $0.00
51-55 $0.00 $0.00
56-60 $0.00 $0.00
61-65 $0.00 $0.00
66-70 $0.00 $0.00
71-80 $0.00 $0.00
81 and over $0.00 $0.00

Accidental Death & Dismemberment (AD&D)

Rates are $0.00 per $25,000 unit (maximum 10 units)
(Premium Rate Holiday)

Long-Term Disability (LTD) (cost-shared coverage)

$1.40 per $1,000 of insured salary

The Employer pays 85% of the premium ($1.19) for Excluded Employees and 100% for Executives and equivalents.

Executive Plan (employer-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.00 per $1,000 of insurance
Accidental Death & Dismemberment $0.00 for $250,000 of insurance
Dependants' $0.00 regardless of family status
Post-Retirement Life $1.45 per $1,000 of insurance
Members of Parliament Plan (government-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.00 per $1,000 of insurance
Accidental Death & Dismemberment $0.00 for $250,000 of insurance
Dependants' $0.92 regardless of family status
Post-Retirement Life $2.40 per $1,000 of insurance
Judges Plan (government-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.334 per $1,000 of insurance
Accidental Death & Dismemberment $2.50 for $250,000 of insurance
Dependant coverage $2.25 regardless of family status
Post-Retirement Life $3.40 per $1,000 of insurance
2022

Monthly PSMIP Premium Rates effective April 1, 2022

A 12 month premium holiday is in effect for the following benefits:

  1. Main Plan - Basic Life
  2. Main Plan - Supplementary Life
  3. Executive Plan - Basic Life
  4. Members of Parliament Plan – Basic Life
  5. Judges Plan - Basic Life
  6. Main Plan - AD&D
  7. Main Plan - Dependant Coverages
  8. Executive Plan - AD&D
  9. Executive Plan - Dependant Coverages
  10. Members of Parliament Plan - AD&D

Main Plan (employee-paid coverage)

Basic Life
(Rates per $1,000 of insured salary) (Premium Rate Holiday)
Age Group Male Female
Under 31 $0.00 $0.00
31-35 $0.00 $0.00
36-40 $0.00 $0.00
41-45 $0.00 $0.00
46-50 $0.00 $0.00
51-55 $0.00 $0.00
56-60 $0.00 $0.00
61-65 $0.00 $0.00
66-70 $0.00 $0.00
71-75 $0.00 $0.00
76-80 $0.00 $0.00
81 and over $0.00 $0.00
Supplementary Life
(Rates per $1,000 units of insured salary)
Age Group Male Female
Under 31 $0.00 $0.00
31-35 $0.00 $0.00
36-40 $0.00 $0.00
41-45 $0.00 $0.00
46-50 $0.00 $0.00
51-55 $0.00 $0.00
56-60 $0.00 $0.00
61-65 $0.00 $0.00
66-70 $0.00 $0.00
71-75 $0.00 $0.00
76-80 $0.00 $0.00
81 and over $0.00 $0.00

Dependants’

  1. Children Only: $0.0 (Premium Rate Holiday)
  2. Spouse and Children or Spouse only (Premium Rate Holiday)
Age Group Male Female
Under 26 $0.00 $0.00
26-30 $0.00 $0.00
31-35 $0.00 $0.00
36-40 $0.00 $0.00
41-45 $0.00 $0.00
46-50 $0.00 $0.00
51-55 $0.00 $0.00
56-60 $0.00 $0.00
61-65 $0.00 $0.00
66-70 $0.00 $0.00
71-80 $0.00 $0.00
81 and over $0.00 $0.00

Accidental Death & Dismemberment (AD&D)

Rates are $0.00 per $25,000 unit (maximum 10 units)
(Premium Rate Holiday)

Long-Term Disability (LTD) (cost-shared coverage)

$1.40 per $1,000 units of insured salary

The Employer pays 85% of the premium ($1.19) for Excluded Employees and 100% for Executives and equivalents.

Executive Plan (employer-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.00
(Premium Rate Holiday)
per $1,000 of insurance
AD&DFootnote 1 $0.00
(Premium Rate Holiday)
for $250,000 of insurance
Dependants' $0.00
(Premium Rate Holiday)
regardless of family status
Post-Retirement Life $1.45 per $1,000 of insurance
Members of Parliament Plan (government-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.00
(Premium Rate Holiday)
per $1,000 of insurance
AD&DFootnote 1 $0.00
(Premium Rate Holiday)
for $250,000 of insurance
Dependants' $0.92 regardless of family status
Post-Retirement Life $2.40 per $1,000 of insurance
Judges Plan (government-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life Rates effective January 1, 2022 $0.00
(Premium Rate Holiday)
per $1,000 of insurance
AD&DFootnote 1 $2.50 for $250,000 of insurance
Dependants' $2.25 regardless of family status
Post-Retirement Life $3.40 per $1,000 of insurance
2021

Monthly PSMIP Premium Rates effective April 1, 2021

A 12 month premium holiday is in effect for the following benefits:

  1. Main Plan - Basic Life
  2. Main Plan - Dependant Coverages
  3. Main Plan - Accidental Death & Dismemberment
  4. Executive Plan - Dependants
  5. Members of Parliament - Basic Life
  6. Members of Parliament - Accidental Death & Dismemberment

Main Plan (employee-paid coverage)

Basic Life
(Rates per $1,000 of insured salary) (Premium Rate Holiday)

Age Group Male Female
Under 31 $0.0 $0.0
31-35 $0.0 $0.0
36-40 $0.0 $0.0
41-45 $0.0 $0.0
46-50 $0.0 $0.0
51-55 $0.0 $0.0
56-60 $0.0 $0.0
61-65 $0.0 $0.0
66-70 $0.0 $0.0
71-75 $0.0 $0.0
76-80 $0.0 $0.0
81 and over $0.0 $0.0

Supplementary Life
(Rates per $1,000 units of insured salary)

Age Group Male Female
Under 31 $0.02 $0.01
31-35 $0.02 $0.02
36-40 $0.03 $0.02
41-45 $0.05 $0.04
46-50 $0.08 $0.06
51-55 $0.14 $0.10
56-60 $0.21 $0.16
61-65 $0.43 $0.30
66-70 $0.48 $0.37
71-75 $0.24 $0.19
76-80 $0.14 $0.12
81 and over $0.22 $0.18

Dependants’

  1. Children Only: $0.0 (Premium Rate Holiday)
  2. Spouse & Children/Spouse only (Premium Rate Holiday)
Age Group Male Female
Under 26 $0.0 $0.0
26-30 $0.0 $0.0
31-35 $0.0 $0.0
36-40 $0.0 $0.0
41-45 $0.0 $0.0
46-50 $0.0 $0.0
51-55 $0.0 $0.0
56-60 $0.0 $0.0
61-65 $0.0 $0.0
66-70 $0.0 $0.0
71-80 $0.0 $0.0
81 and over $0.0 $0.0

Accidental Death & Dismemberment (AD&D)

Rates are $0.00 /$25,000 unit (maximum 10 units) (Premium Rate Holiday)

Long-Term Disability (LTD) (cost-shared coverage)

$1.40 per $1,000 units of insured salary

The Employer pays 85% of the premium ($1.19) for Excluded Employees and 100% for Executives and equivalents.

Executive Plan (employer-paid coverage)

Line of Insurance Premium Amount Coverage
Basic Life $0.126 per $1,000 of insurance
AD&DFootnote * $1.75 for $250,000 of insurance
Dependants' $0.00
(Premium Rate Holiday)
regardless of family status
Post-Retirement Life $1.45 per $1,000 of insurance

Members of Parliament Plan (government-paid coverage)

Line of Insurance Premium Amount Coverage
Basic Life $0.00
(Premium Rate Holiday)
per $1,000 of insurance
AD&DFootnote * $0.00
(Premium Rate Holiday)
for $250,000 of insurance
Dependants' $0.92 Regardless of family status
Post-Retirement Life $2.40 per $1,000 of insurance

Judges Plan (government-paid coverage)

Line of Insurance Premium Amount Coverage
Basic Life Rates effective January 1, 2021 $0.334 per $1,000 of insurance
AD&DFootnote * $2.50 for $250,000 of insurance
Dependants' $2.25 Regardless of family status
Post-Retirement Life $3.40 per $1,000 of insurance
2020

Monthly PSMIP Premium Rates effective February 1, 2020

The premium rates for the following benefits decreased:

  1. Executive Basic Life
  2. Executive Post-Retirement Life
  3. Members of Parliament Post-Retirement Life
  4. Judges Post-Retirement Life

An 11 month premium rate holiday is in effect for the following benefits:

  1. Main Plan - Accidental Death & Dismemberment
  2. Members of Parliament - Accidental Death & Dismemberment
  3. Judge’s Basic Life

Main Plan (employee-paid coverage)

Basic Life - No Change
(Rates per $1,000 of insured salary)
Age Group Male Female
Under 31 $0.03 $0.02
31-35 $0.03 $0.03
36-40 $0.05 $0.03
41-45 $0.08 $0.05
46-50 $0.14 $0.10
51-55 $0.22 $0.16
56-60 $0.35 $0.25
61-65 $0.58 $0.40
66-70 $0.67 $0.50
71-75 $0.31 $0.25
76-80 $0.22 $0.18
81 and over $0.33 $0.27
Supplementary Life - No change
(Rates per $1,000 of insured salary)
Age Group Male Female
Under 31 $0.02 $0.01
31-35 $0.02 $0.02
36-40 $0.03 $0.02
41-45 $0.05 $0.04
46-50 $0.08 $0.06
51-55 $0.14 $0.10
56-60 $0.21 $0.16
61-65 $0.43 $0.30
66-70 $0.48 $0.37
71-75 $0.24 $0.19
76-80 $0.14 $0.12
81 and over $0.22 $0.18
Dependants Life and Accidental Death & Dismemberment (AD&D) - No Change
A. children only: $0.35 flat rate
B. Spouse & Children/Spouse only
Age Group Male Female
Under 26 $0.35 $0.35
26-30 $0.43 $0.50
31-35 $0.56 $0.63
36-40 $0.71 $0.78
41-45 $0.78 $0.91
46-50 $0.91 $1.06
51-55 $1.06 $1.41
56-60 $1.41 $2.12
61-65 $2.12 $3.24
66-70 $1.06 $1.62
71-80 $1.62 $2.53
81 and over $2.40 $3.75

Accidental Death & Dismemberment (AD&D)

premium holiday (11 months)

Long-Term Disability (LTD)

$1.40 per $1,000 units of insured salary.

Executive Plan (employer-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.126 per $1,000 of insurance
AD&D $1.75 for $250,000 of insurance
Dependants' $1.21 regardless of family status
Post-Retirement Life $1.45 per $1,000 of insurance
Members of Parliament Plan (government-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.385 per $1,000 of insurance
AD&D $0.00
11 month premium holiday
for $250,000 of insurance
Dependants' $0.92 regardless of family status
Post-Retirement Life $2.40 per $1,000 of insurance
Judges Plan (Government-paid coverage)
Line of Insurance Premium Amount Coverage
Basic Life $0.00
11 month premium holiday
per $1,000 of insurance
AD&D $2.50 for $250,000 of insurance
Dependants' $2.25 Regardless of family status
Post-Retirement Life $3.40 per $1,000 of insurance
Archives

Archived monthly premium rates

Our archived premium rates can be found at the collection of Government of Canada publications.

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