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:
- Main Plan – Basic Life
A 12-month premium holiday is in effect for the following benefits:
- Main Plan - Supplementary Life
- Main Plan - Accidental Death & Dismemberment
- Main Plan - Dependant Coverages
- Executive Plan - Basic Life
- Executive Plan - AD&D
- Executive Plan - Dependant Coverages
- Members of Parliament Plan - Basic Life
- Members of Parliament Plan - Accidental Death & Dismemberment
Main Plan (employee-paid coverage)
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 |
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
- Children Only (Premium Rate Holiday)
- 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.
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 |
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 |
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:
- Main Plan - Basic Life
- Main Plan - Supplementary Life
- Executive Plan - Basic Life
- Members of Parliament Plan – Basic Life
- Judges Plan - Basic Life
- Main Plan - AD&D
- Main Plan - Dependant Coverages
- Executive Plan - AD&D
- Executive Plan - Dependant Coverages
- Members of Parliament Plan - AD&D
Main Plan (employee-paid coverage)
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 |
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’
- Children Only: $0.0 (Premium Rate Holiday)
- 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.
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 |
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 |
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:
- Main Plan - Basic Life
- Main Plan - Dependant Coverages
- Main Plan - Accidental Death & Dismemberment
- Executive Plan - Dependants
- Members of Parliament - Basic Life
- Members of Parliament - Accidental Death & Dismemberment
Main Plan (employee-paid coverage)
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 |
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’
- Children Only: $0.0 (Premium Rate Holiday)
- 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.
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 |
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 |
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:
- Executive Basic Life
- Executive Post-Retirement Life
- Members of Parliament Post-Retirement Life
- Judges Post-Retirement Life
An 11 month premium rate holiday is in effect for the following benefits:
- Main Plan - Accidental Death & Dismemberment
- Members of Parliament - Accidental Death & Dismemberment
- Judge’s Basic Life
Main Plan (employee-paid coverage)
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 |
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 |
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.
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 |
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 |
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.
Report a problem or mistake on this page
- Date modified: