Optional Life Insurance for Staff

The Optional Life Insurance plan for UBC staff and their spouses provides coverage in addition to your Basic Group Life Insurance through UBC, or any other life or accident insurance you may have.

Premiums for Optional Life Insurance depend on your age, the amount of insurance you carry and whether you smoke.  Click here for a premiums table.  Premium payments are deducted from your paycheque at the end of each month. You pay 100% of the premium cost for employee and/or spousal coverage and there is no extra premiums to cover your dependent children.

The plan provides benefits for the designated beneficiary should you, your spouse or your dependent child die. This differs from the Basic Group Life Insurance plan, which does not cover spouses or dependent children.

When coverage begins: when you and/or your spouse’s application is approved by Sun Life Assurance Company of Canada. You (and UBC) will be advised of your coverage effective date in writing.

When coverage ends: Coverage ends on the earliest of the following dates for Staff and Spouses of Staff:

For Staff:

1. the date you elect to voluntarily cancel your coverage (see “Changes to Coverage”).
2. the date your employment ends or you choose to retire.
3. the Dec. 31st coincident with or following the date you turn age 71, if you are still working.

For Spouses of Staff:

1. the date you elect to voluntarily cancel your spouse’s coverage (see “Changes to Coverage”).
2. the date your employment ends or you choose to retire, if you retire before your Normal Retirement Date (the end of the month you turn age 65).
3. your Normal Retirement Date (the end of the month you turn age 65). This applies even if you continue to work past your Normal Retirement Date.

Some other reasons for coverage to end include: you or your spouse entering the armed forces full time, your children or spouse no longer qualify as dependents, you no longer pay your insurance premiums, or you cancel your coverage.

See “Life Conversion” for information on converting to an individual policy when coverage ends.

Important Note: This outline is a descriptive outline of the plan only; it is not a contract. All terms and conditions are governed by Contract Number 50555-G-Part B with Sun Life Assurance Company of Canada. In the event of a discrepancy, benefits will be paid according to the official document and applicable legislation.

Important forms

For Staff

Premiums table
Enrolment/increase coverage form
Enrolment/increase coverage checklist
Change coverage form (other than an increase)
Change beneficiary form (employee)
Change beneficiary form (spouse)

Eligibility

If you are enrolled in UBC’s Basic Group Life Insurance Plan, you are eligible to apply for the Optional Life Insurance plan for Employees and Spouses. All applications are subject to satisfactory proof of good health (see Applying for Coverage).

Amount of Coverage

You may purchase Optional Life Insurance for you and/or your spouse in units of $25,000 up to a maximum of $250,000.

For each $25,000 unit of coverage you purchase for your spouse, you receive $5,000 of coverage for each dependent child at no extra charge. If you are a single parent, the $5,000 coverage for each dependent child is based on the number of $25,000 units of coverage you purchase for yourself.

Your children and your spouse’s children (other than foster children) are considered dependent children if they are not married or in any other formal union recognized by law, and are under age 19.  A child who is a full-time student attending an educational institution recognized under the Income Tax Act (Canada) is also considered an eligible dependent until the age of 25 as long as the child is entirely dependent on you for financial support.  A dependent child’s coverage will terminate when the child attains the limiting age.  If a child becomes handicapped before the limiting age, coverage may continue as long as:

• the child is incapable of financial self-support because of a physical or mental disability, and
• the child depends on you for financial support, and is not married nor in any other formal union recognized by law.

A child may not be considered to be a Dependent of more than one Employee.

When Coverage Begins

Coverage under the Optional Life Insurance plan begins from the first day you and/or your spouse are approved by Sun Life for the plan, NOT on the day the application is submitted. If you are not at work on the day your application is approved, your coverage will begin on the day you return to work.

Coverage for dependent children is effective on the day your spouse’s coverage begins, unless you are a single parent, in which case the coverage for your children begins on the first day of your coverage.

Applying for Coverage

All Optional Life applications will require completion of a medical questionnaire. Satisfactory proof of good health is required for you and/or your spouse to become covered under the Optional Life Insurance plan.

You can apply for coverage by completing an Enrolment Form (see the forms section above). Once Financial Services verifies your application, you will be sent a medical questionnaire with instructions to complete and send the form directly to Sun Life.

Note: You must maintain your coverage while on a leave of absence. If you do not, you will have to re-apply for insurance coverage upon your return to work, which means you will be subject to the same eligibility criteria as a new applicant.

Changes to Coverage

You can change coverage under the Optional Life Insurance plan.

Satisfactory proof of good health is required for you and/or your spouse to increase your coverage. To apply for an increase in existing coverage, complete the Optional Life Insurance Enrolment Form and forward to Financial Services (Room 305 – GSAB; 2075 Wesbrook Mall). Once Financial Services verifies your application, you will be sent a medical questionnaire with instructions to complete and send the form directly to Sun Life.

You can also decrease coverage at any time, without completing a health questionnaire. To decrease coverage, please complete the Optional Life Change Form for Staff. A Sun Life medical questionnaire does not need to be completed.

If you and/or your spouse have not used tobacco products for the past 12 months, you may qualify for non-smoker premiums. On the Optional Life Change Form for Staff, there is a section where you can change your status from smoker to non-smoker.

Life Conversion

You have the option of converting all or a portion of your Optional Life Insurance coverage for you and/or your spouse to an individual policy within 31 days after your coverage ends.

The benefit of this conversion is that you will not be asked to complete a health questionnaire to retain the same level of coverage as you had during your employment at UBC.

However, if you are in good health, it may be to your advantage make a regular application for coverage. Sun Life, our insurance carrier, can provide you with details on this option.

The premium rates for individual policies will be based on age, sex, and the customary rate for the type of insurance chosen. The maximum amount you can convert is $200,000 from your group life policies at UBC (Basic and Optional Life) and $200,000 for your spouse.

Contact Sun Life at 1.800.786.5433 for more information, or how to apply.