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Group Life Insurance

Carrier: Sun Life, Group Plan Number 50813

This plan provides insurance coverage on your life after your first full day of employment. Your insurance is based on your initial annual salary, and thereafter is revised each time you have a change in your salary.

The minimum amount of life insurance you must have is one (1) times your salary, and the group premium is paid entirely by the University.

When you join the University, you may elect to be insured for up to three (3) times your annual salary.

If you choose a total of two (2) or three (3) times your salary, you will be required to pay a portion of the premium for the amount in excess of one (1) times your salary. The University pays the remaining portion of the group premium. Premiums may be subject to change at the beginning of a policy year.

You may elect to increase your insurance to up to six (6) times your salary. If you choose a total of four (4), five (5) or six (6) times your salary, you are required to pay the full premium for the amount in excess of three (3) times your salary, and this premium is based on rates which are related to your age and whether or not you are a smoker. Please refer to the Table of Rates for more details.

The latter options (i.e., 4, 5 or 6 times salary), as well as any increases in the level of your insurance, require you to provide evidence of insurability satisfactory to the insurance carrier (i.e., completion of a medical questionnaire, and possibly participating in other health tests as deemed appropriate by the carrier).

You will appoint a beneficiary when you apply for the coverage. If you wish to change this beneficiary or apply for an increase in your insurance, please contact your Payroll Benefits Assistant in Human Resources.

If you terminate employment with the University, you may convert to an individual policy with the insurance carrier, subject to certain conditions. Upon retirement, you are eligible for a reduced amount of life insurance; please refer to the Retirement Benefits booklet for details.

Spousal Life Insurance

Spousal insurance is available in multiples of the employee's annual salary up to the approved amount of insurance for the employee, subject to an overall spousal insurance limit of $200,000.

Spousal insurance costs are paid entirely by the employee and are based on rates related to age and whether or not the insured is a smoker. Premiums are based on a five-year age band and may be subject to change at the beginning of a policy year. Please refer to the Table of Rates for more detail. If the employee terminates or retires, the spousal insurance also ceases, but may be converted to an individual policy, subject to certain conditions.

Evidence of insurability must be provided to, and approved by, the insurance carrier for all spousal insurance. This includes the completion of a medical questionnaire, and possibly participating in other health tests as deemed appropriate by the carrier. Application forms for spousal insurance are available in the Human Resources Department; please contact your Payroll Benefits Assistant.

* Refer to definition of spouse in Extended Health Care section

University of Waterloo Death Benefits

If you die while in regular full-time service of the University of Waterloo, an amount equal to one month's base salary will be payable.

UW Pension Plan death benefits are payable as follows:

The Ontario Pension Benefits Act 1987 requires that, unless the appropriate waiver is signed, your spouse (as defined by the Act) be the beneficiary for the value of your pension benefit accrued since January 1, 1987. If you have no spouse, your designated beneficiary will be used.

There is also available a death benefit payable from the Canada Pension Plan. Application is made through the Income Security Office, Health and Welfare Canada (1-800-265-9480).

Travel Accident Insurance

If accidental death occurs while traveling on University business, or while on sabbatical or paid leave of absence, an insurance amount of $100,000 may be payable (see Policy 31). If death is accidental and arises out of and in the course of employment, a Workplace Safety and Insurance Board burial allowance may be payable.