Optional Life Insurance

To Apply

Complete the Canada Life Evidence of Insurability form (select Optional Life) and have your employer forward the original to our office. Coverage is effective on the date the insurer approves the application. You and your employer will be notified in writing.

Coverage

Coverage is available in units of $50,000, up to a maximum of $250,000. Insurer approval of medical evidence is required for this coverage. An employee or their spouse can apply at any time, provided the employee has satisfied the waiting period applicable to their group.

Premiums

This coverage is optional, so premiums are 100% paid by you, the employee. Please ensure your payroll is adjusted accordingly.

Termination

Coverage terminates at the age of 65 or earlier retirement, whichever comes first. You can also terminate your coverage at any time by emailing us.

Payroll Deductions

Deductions should start on the first of the month coincident with or following the date the insurer approves your (or your spouse’s) application.
Do not commence payroll deductions until you receive the letter confirming approval of coverage.

Beneficiary

The beneficiary for any spousal optional life benefit amount is automatically the employee. The beneficiary for any employee’s optional life benefit can be designated by the employee on their original Canada Life of Insurability application form and if required, changed using the BCCA Employee Benefit Trust Change form.

Note: If the beneficiary is a minor, you must appoint a Trustee using Canada Life ’s Trustee Appointment form.