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Group Life Insurance Plan

The Public Employees Group Life Insurance Plan provides comprehensive life insurance coverage to:

  • employees of Executive Government;
  • several crown corporations; and
  • various agencies, boards and commissions as approved by the Lieutenant Governor in Council.

Canada Life Assurance Company provides claims adjudication and benefit payment services. The Plan is managed by the Public Employees Benefits Agency.

How to Enrol

If you are eligible, your human resource contact will discuss your enrolment as part of your onboarding.

Eligibility

  • Coverage under the Plan begins on your first day of active employment.
  • Coverage ends immediately at termination of employment or if you do not elect to continue coverage while on leave of absence/layoff.
  • Whenever your coverage ends, you have 31 days to convert the amount of coverage (employee and spouse) that was in effect at termination to an individual policy with the insurance carrier.

Coverage

  • Basic coverage: equal to two times (2x) your annual salary.
  • Optional coverage: you may qualify to purchase optional coverage as:
    • unit-based coverage – additional coverage in units of $10,000.
    • salary-based coverage – additional coverage equal to one times (1x), two times (2x), three times (3x) or four times (4x) your annual salary.
  • Maximum coverage: (basic plus optional) is $500,000.

Coverage during leave/disability

Leave of absence – If you take an approved leave of absence without pay or are laid-off, you may continue your coverage for a maximum of three years. You must complete a Leave of Absence or Layoff form prior to the start of your leave.

Long-term disability – If you are eligible for coverage under the Plan and qualify for benefits under a participating employer’s long-term disability plan, your group life insurance coverage may remain in effect at no cost (premium waiver).

Coverage at retirement

Death certificate:

Insured employees who retire under an employer-sponsored pension plan are eligible to receive a $10,000 Retirement Death Benefit Certificate.

The certificate is payable to your designated beneficiary(s) upon your death. This is payable whether you continue your group life insurance into retirement or not.

Group Life Insurance at retirement

There are two extension options at retirement based on your age. You must be insured under the Plan on the date immediately preceding retirement to qualify. Insurance rates at retirement is determined by your age.

  1. Prior to age 65 the rate is $0.22 per thousand dollars of coverage.
  2. At age 65 the rate is $15 per $10,000.

If you retire younger than age 65, you may continue coverage until the end of the month you reach age 65. You then have the option to extend coverage to age 75.

If you retire at age 65, you may continue coverage until the end of the month you reach age 75.

In both instances insurance premiums are paid monthly by the retiree.

Reporting

Annual reports

Annual reports provide information and a summary of the Plan's achievements in the past year.

Annual reports

Investment Policies

The Statement of Investment Policies and Goals (SIP&G) provide the framework for management of the Plan's investments within levels of risk acceptable to the Plan.

The Policy provides the investment managers with a written statement of specific quality, quantity, and rate of return standards.

 Statement of Investment Policies and Goals