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 for both you and your spouse. Your dependent children are automatically approved for Optional Life Insurance if you are enrolled in the plan (effective March 1, 2015). For more details on applying for coverage, please refer to sections below. To apply for coverage, visit Workday.
For Workday resources and help visit the Integrated Service Centre.
The Optional Life Insurance Plan provides supplementary coverage in addition to your Basic Group Life Insurance through UBC or any other life insurance you may have.
If you are enrolled in UBC’s Basic Group Life Insurance Plan, you are also eligible to apply for the Optional Life Insurance Plan. When you apply for this optional plan, you must complete a Health Statement that is subject to review and approval by Sun Life.
You select the coverage amount when you apply for the plan in units of $25,000, to a maximum of $750,000. You also designate a beneficiary to receive the sum of money (benefit) if you die. If you do not designate a beneficiary, the benefit is paid to your estate.
If you are enrolled for UBC’s Basic Group Life Insurance Plan, you are also eligible to apply for the Optional Life Insurance Plan for your spouse. When you apply for this optional plan, your spouse must complete a Health Statement that is subject to review and approval by Sun Life.
You select the coverage amount for your spouse when you apply for the plan in units of $25,000, to a maximum of $750,000. Your spouse should also designate a beneficiary to receive the sum of money (benefit) if they die. If they do not designate a beneficiary, the benefit is payable to their estate.
Learn more about who is considered a spouse.
For dependent children
Coverage approved as of March 1, 2015 or later:
Your eligible dependent children are automatically approved for optional dependent life insurance coverage if you are approved for optional life insurance coverage on or after March 1, 2015. You do not need to apply for this optional plan for your dependent children.
For each $25,000 unit of coverage you purchase for yourself, you will receive $5,000 of coverage for each eligible dependent child at no extra charge. For example, if you are approved for $750,000 Optional Life, each dependent child is covered for $150,000.
Coverage approved prior to March 1, 2015:
Prior to March 1, 2015, the optional insurance for dependent children is based on your spouse’s optional life insurance. If your spouse was approved for spousal optional life insurance before March 1, 2015, you will receive $5,000 for each $25,000 unit of spousal coverage for each eligible dependent child at no extra charge. If you did not have an eligible spouse, the optional life insurance for your dependent children is based on your optional life insurance coverage.
In the event of your child’s death, you are the designated beneficiary for your dependent child’s benefit.
If both parents are UBC employees, only one dependent child claim is payable.
Learn more about who is considered a dependent child.
What are the premiums?
You pay a monthly premium for Optional Life Insurance for coverage for yourself and/or your spouse. For dependent children, there is no additional cost.
The cost of this premium depends on the age of the covered individual, the amount of insurance selected and whether they smoke. Click here for a premiums table.
Premium payments are deducted from your paycheque at the end of each month and they are subject to change annually (each January 1) and as you and/or your spouse age. You pay the full premium cost for coverage.
How do I apply for coverage?
You must apply and complete a Health Statement for Optional Life Insurance for you and/or your spouse. You must be actively at work in order to apply (a disability leave or unpaid leave of absence is not considered actively at work). To apply visit Workday.
A Benefits Partner from Payroll will send you a Health Statement with instructions on next steps after you submit your enrolment in Workday.
Sun Life will review your application and inform you in writing if you are eligible for Optional Life Insurance. As long as your dependent child is eligible for your other UBC benefits, they will automatically be covered.
When does my coverage begin and end?
See Benefit Coverage Start and End Dates for details on when your coverage begins and ends.
Your coverage may also end if:
- you or your spouse join the armed forces full time,
- your children or spouse no longer qualify as dependents, or
- you no longer pay your insurance premiums.
See Benefit Coverage Start and End Dates for more information.
When coverage ends, you can convert all or a portion of Optional Life Insurance coverage for you and/or your spouse to an individual policy. You will not be asked to complete a health questionnaire to retain the same level of coverage you and/or your spouse had before your coverage ended. You must convert your policy within 31 days after your coverage ends. This conversion option is not available to dependent children. Learn more.
How do I increase or decrease my coverage?
You can increase or decrease your coverage under the Optional Life Insurance Plan in Workday.
All increases to coverage are subject to providing satisfactory proof of good health by completing a Health Statement.
How do I update my status as a smoker or non-smoker?
Your premium costs are influenced by whether or not you use tobacco products. If you have not used tobacco products for the past 12 months, you can update your smoker/non-smoker status in Workday.
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.
You can read the full details of your Optional Life Insurance policy in the Sun Life booklet for your employee group:
- BCGEU Childcare
- BCGEU Okanagan
- CUPE 116
- CUPE 2278
- CUPE 2950
- IUOE 115
- Faculty: includes Faculty and Academic Executive
- Management and Professional: includes Management & Professional and Administrative Executive
- Non-union: includes Executive Administrative, Farm Workers and Non-Union Technicians and Research Assistant.