Life Insurance

Your UBC Life Insurance Plans include the following mandatory and optional life insurance plans:

Basic Group Life Insurance for employees

UBC’s Basic Group Life Insurance Plan will pay a sum of money (benefit) to your designated beneficiary in the event of your death, whatever the cause. The amount depends on your age at the time of your death and your annual earnings, to a maximum of $300,000. The benefit your beneficiary will receive is non-taxable.

Your spouse and/or dependent children are not covered under UBC’s Basic Group Life Insurance Plan. However, they may qualify for UBC’s Optional Life Insurance Plan.

If you are eligible, you are automatically be enrolled in UBC’s Basic Group Life Insurance Plan.

Learn more about Basic Group Life Insurance.

Optional life insurance

For employees

UBC’s Optional Life Insurance Plan provides supplementary life insurance coverage in addition to your Basic Group Life Insurance. You can purchase Optional Life Insurance to a maximum of $750,000. You must apply for this optional plan, and your application must include a Health Statement that is subject to review and approval by Sun Life. If you are approved, you pay for this plan through monthly premiums that are deducted from your paycheque. In the event of your death, your beneficiary will receive a non-taxable sum of money.

Learn more about Optional Life Insurance.

For spouses

UBC’s Optional Life Insurance Plan provides supplementary life insurance coverage for your spouse. You can purchase Optional Life Insurance for your spouse to a maximum of $750,000. You must apply for this optional plan for your spouse, and your application must include a Health Statement from your spouse that is subject to review and approval by Sun Life. If they are approved, you pay for this plan through monthly premiums that are deducted from your paycheque. In the event of your spouse’s death, their beneficiary will receive a non-taxable sum of money.

Learn more about who is considered a spouse.

For dependent children

Your dependent children are automatically approved for supplementary life insurance coverage under UBC’s Optional Life Insurance Plan once you are approved for coverage (effective March 1, 2015). You do not need to apply for this optional plan for your dependent children and there is no additional cost besides the payment of the monthly premiums for your own coverage. In the event of your child’s death, you will receive a non-taxable sum of money.

Learn more about who is considered a dependent child.

Optional Accidental Death & Dismemberment

For employees

UBC’s Optional Accidental Death & Dismemberment (AD&D) coverage will pay a sum of money (benefit) to your beneficiary if you are the victim of an accident that results in the loss of life, limb, sight or hearing. You apply for this optional plan when you apply for the Optional Life Insurance Plan, and the coverage amount is the same as Optional Life. If you are approved for Optional Life, you pay for this plan through monthly premiums that are deducted from your paycheque. In the event of your death, your beneficiary will receive a non-taxable sum of money. The beneficiary of your Optional AD&D is the same as your designation for Optional Life.

Learn more about Accidental Death & Dismemberment Insurance.

For spouses

UBC’s Optional Accidental Death & Dismemberment (AD&D) coverage will pay a sum of money to your spouse’s beneficiary if they are the victim of an accident that results in the loss of life, limb, sight or hearing. You apply for this optional plan for your spouse when you apply for their Optional Life Insurance Plan. If they are approved for Optional Life, you pay for this plan through monthly premiums that are deducted from your paycheque. In the event of your spouse’s death, their beneficiary will receive a non-taxable sum of money. The beneficiary of your spouse’s Optional AD&D is the same as their designation for Optional Life.

How do I make a change to my life insurance policies?

You can make the following changes to you and your spouse’s life insurance policies by completing the appropriate form and submitting the original to Payroll:

How do I submit a life insurance claim?

If you die, your beneficiary or executor must contact UBC Human Resources to submit a life insurance claim. We can only communicate directly with the designated beneficiary, beneficiaries or trustees that are on file. They will be asked to provide all of the following information in writing:

  • name of deceased
  • date of death
  • a copy of the death certificate certified by a lawyer, notary or Commissioner of Oaths

UBC Human Resources will then provide the necessary claim forms and help with the claim submission process.

If your spouse or dependent child dies and was covered for Optional Life Insurance, please contact UBC Human Resources to initiate a claim.

Please contact Janet McHugh at 604-822-6823 or janet.mchugh@ubc.ca to submit a life insurance claim.

How do I apply for a loan against my life insurance?

If you are diagnosed with a terminal illness and are expected to live less than 24 months, you may be eligible to apply for a Living Benefits loan, which can provide some financial relief.

For more information about Living Benefits loans, including details about the application and approval process, contact UBC Benefits.

For more information

The outline above is a descriptive summary of the plan and is not a contract. All terms and conditions are governed by Contract Number 050555 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.

For complete details about your Life Insurance Plans, refer to the Sun Life benefits booklet for your employee group.

Disclaimer

The benefits information on this website is provided as a descriptive summary only. While the University has endeavored to accurately reflect its benefit programs, policies and plans, the information on this website does not create any contractual or other rights between the University and its faculty and staff members. To the extent that there are any conflicts or discrepancies between the benefits information on this website and the benefit plan documents (including group insurance contracts and benefit booklets) or any applicable collective agreement, employment agreement, or UBC policy, the benefit plan documents and collective agreement, employment agreement, or UBC policy will govern in all cases.

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