Unifor, Local 2003: Group Life Insurance

Plan Administrator: The Great-West Life Assurance Company


Available to all staff on a continuing or term basis and with a total percentage of appointment equal to 25% or more of full-time employment.

What the Plan Provides

Basic life insurance coverage equal to one times your annual salary (maximum insurable salary is $125,000) at no cost to the staff member. This amount would be paid in a lump sum to your named beneficiary in the event of your death.

  • an amount equal to one times your annual salary, or
  • an amount equal to two times your annual salary, or
  • an amount equal to three times your annual salary.

Additional optional life insurance on a cost sharing basis. The University’s subsidy is 33 1/3% of the total cost and the options available are:


If you have a spouse and/or dependent children, you may elect one of the Survivor’s Income Benefit plans that provide:

  • a lump sum payment of either one times (i.e., the basic life insurance coverage) or two times your annual salary, depending upon the option chosen. The Maximum Insurable Salary for this option is $125,000. This amount would be paid to the named beneficiary (this could be your spouse or someone else)
  •   plus
    • 30% of your annual salary paid to your spouse in monthly installments until his/her death or remarriage, guaranteed for at least ten years. The maximum insurable salary is $65,000 per year and the maximum monthly benefit is $1,625.
  •   plus
    • 10% of your annual salary to each child (up to a maximum of two children) paid in monthly installments until each reaches the age of 21. If you have more than two children payment would be made to the two youngest. The maximum insurable salary is $65,000 per year and the maximum monthly benefit is $541.67 for each child.

You have the option of designating your spouse or common-law partner as your beneficiary for Group Life Insurance. However, before the benefit under the Survivor Income provision of the life insurance is payable, the insurer will require proof of co-habitation for a period of at least three years for a common-law partner.

Our group life insurance is a term insurance plan, has no cash surrender value – you cannot take a loan against it. Coverage extends for a 31-day period following termination from the University, with the option available of converting into a private individual policy through Great-West Life Assurance Company.

Staff members wishing to participate in the Additional Life Insurance/Survivor Income Benefit Plans must enroll within sixty days of the date of hire/eligibility, marital status change or birth/adoption of a child. Otherwise, the staff member must submit a “Statement of Health for Group Insurance” questionnaire to the insurer if applying for a change in the level of coverage.

Any premium amount paid by the University towards your basic and optional life insurance is considered a taxable benefit.