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Queen's University
 

Optional Life Insurance

If you are enrolled in the basic life insurance plan, you may apply for additional Optional Life Insurance to increase your life insurance coverage.

Monthly premiums are based on age and per thousand of insurance coverage.

Note: This coverage will cease upon termination of the basic coverage, at the time of early or normal retirement, or on the July 1st following your 65th birthday, whichever occurs first. If you have additional Optional Life Insurance you may convert some or all of it (as with basic life insurance).

Amount of Benefit

Units of $25,000 of coverage are available up to a maximum of $250,000.

Coverage

Applications for additional optional coverage may be made anytime and will become effective when approved by Great-West Life. You may have to provide medical evidence of good health at your own expense.

Beneficiary

Your beneficiary under the optional life insurance may or may not be the same as the one designated under the basic life insurance.

Limitations

Optional life insurance is not payable if:

  • You commit suicide while sane or insane within two years of the effective date of the coverage or on the effective date of increase in coverage (for increase only).
  • You have provided any material misrepresentation or non-disclosure in answering the questions on the insurability questionnaire.

Disability

If you become totally disabled for a period in excess of six months and are subsequently on Long-Term Disability, premiums will be waived subject to medical verification.

Conversion Privileges on Termination of Employment or Early Retirement

Within 31 days of terminating employment or retiring early from the University you may contact Great-West Life and convert the coverage to a standard individual policy without providing evidence of good health.

The maximum amount that can be converted is $200,000 for basic and optional life combined.

Queen's Human Resources
Fleming Hall, Stewart-Pollock Wing
Kingston, Ontario, Canada. K7L 3N6.
T: 613.533.2070 | F: 613.533.6196
hradmin@queensu.ca