FAQ - Optional insurance

Depending on your contract, you may be able to take out optional insurance for yourself, your spouse or your dependent children. Eligibility conditions and amounts may differ, depending on who is being insured.

Optional benefits, their cost and the amount of insurance available vary from plan to plan. The factors that determine the premium, however, remain the same: the type of coverage, the amount of insurance, and the proposed insured's sex, age and smoking habits.

Taking out optional insurance as part of a group insurance plan offers a number of advantages over an individual insurance plan:

• You get better rates.
• You can choose the amount of insurance you need (depending on the maximum allowed by your plan).
• You can pay through payroll deductions, so you don't have to worry about missing your premium payments.

The following questions are about your financial situation. They'll help you determine whether the basic insurance offered by your group plan is enough, or if it would be a good idea to add optional benefits.

1. What would happen to your family's quality of life if you became critically ill or died?
2. How much longer will your children be financially dependent on you?
3. Would you like to free your beneficiaries from outstanding financial obligations when you die?
4. What else are you and your spouse covered for? Does your coverage meet your needs? How much are you paying?
5. Do you have enough money put aside to pay for a funeral if one of your dependents dies?
6. Have you thought about the additional costs that a critical illness can entail (e.g., nursing services, making your home wheelchair accessible, etc.)?

Just fill out the applicable section of the Application for Enrollment form – 9147A (PDF, 1.3 MB) Opens in a new window.. Proof of good health is normally required for you to be eligible for optional coverage. You may have to fill out an insurability report and send it in with the enrollment form. If medical tests are required, we will set them up and pay for them.

Provided that the premiums are paid, optional group insurance remains in force until your 65th birthday, or until you become ineligible for the plan. If you stop working for your current employer, you can choose to convert your optional life and critical illness insurance coverage into an individual policy, along with your basic insurance. This is called a conversion privilege. If you would like to apply, please download the Conversion request – 14141E (PDF, 1 MB) Opens in a new window. form and explanatory pamphlet (PDF, 398 KB) Opens in a new window..

You can make changes to your optional insurance coverage at any time by filling out the applicable section of the Member's Change Request– 04035E (PDF, 1.2 MB) Opens in a new window. form.