Group Life Insurance
Important Changes to Group Life Insurance Plan:
Life insurance coverage gives you peace of mind knowing that your family will be protected from financial difficulty in the event of your death.
For the 2021/2022 school year the rates will change as follows.
A portion of the required Group Life rate has been subsidized from the Plan’s surplus funds since October 1, 2006. A reduced premium rate has been paid by employees and employers since then. The subsidy lasted many years longer than we anticipated. It has finally depleted the surplus funds and will be discontinued effective October 1, 2018.
Effective October 1, 2021, the Group Life rate paid by employees and employers will increase by $0.01 per $1,000 of coverage.
Family Life Insurance
Coverage for family members has been expanded to include children of legal guardians starting September 1, 2015. For the 2021/2022 school year the rates remain unchanged.
Coverage for family members has also been expanded to include children of legal guardians.
If you currently do not have AD&D insurance, you’ll have an opportunity to add this coverage in September 2015. If interested, contact your payroll administrator for an application. Once it is processed, your new coverage will begin on the later of September 1, 2015 or the date the application is received by your payroll administrator. At this time you can also increase or decrease your existing coverage.
*NOTE: the reduction in Manitoba Retail Sales Tax from 8% to 7% effective July 1, 2019 does apply to the Group Life, Family Life and Accident Insurance plans.
For more information on your Group Life Insurance